Shale-focused producers slow drilling plans

摘要

Shale-focused independent oil and gas producers in the US are cutting spending and pacing their drilling plans for the rest of the year, setting them aside from their larger, more diversifed peers and oil majors. Pioneer Natural Resources has lowered its 2019 capital expenditure (capex) guidance to $3.05bn-3.25bn from $3.1bn-3.4bn after completing its transition to a pure play operator, focused entirely on the Permian basin in Texas and New Mexico. The restructuring includes shedding nearly 30pc of its workforce and cutting about $100mn in general and administrative costs. Whiting Petroleum, a key operator in North Dakota’s Bakken shale, says it is reducing its workforce by 33pc, with an aim to generate $50mn in annual savings.