Random Update On CAPEX Cutbacks For 2016 -- November 7, 2015

Reuters/Rigzone provides some CAPEX cutbacks for 2016 in the shale oil industry. There is nothing new here that regular readers wouldn't already know, but Reuters puts it together in one place for a few companies. Some excerpts:

Top shale companies including Devon Energy Corp, Continental Resources Inc and Marathon Oil Corp this week released preliminary 2016 plans for capital spending that may fall by double digits.

Devon said it expects to spend $2 billion to $2.5 billion on exploration and production next year, down from about $4 billion this year.

Marathon Oil is cutting about $1 billion from its projections.

Oasis Petroleum Inc, which produces oil in North Dakota, said it expects to spend $350 million in 2016 on drilling and completion of new wells, roughly $200 million below what it plans to spend for those services this year.

Continental Resources, North Dakota's second-largest oil producer, said it will need to spend $1.5 billion to $1.6 billion next year to maintain output of roughly 200,000 barrels of oil equivalent per day. That would be less than half the roughly $3.4 billion the company expects to spend this year.

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Sam Phillips Book Review Over At The Wall Street Journal

Link here.  

Though he is acclaimed by his biographer as “The Man Who Invented Rock ’n’ Roll,” readers may still need some introduction to Sam Phillips.

Born in Florence, Ala., in 1923, Phillips moved to Memphis after World War II and got into the music business. As operator of a recording studio and later a record company, he discovered Howlin’ Wolf, Elvis Presley, Johnny Cash and Jerry Lee Lewis and made some of the earliest recordings of B.B. King and Ike Turner, including the 1951 song that some buffs consider the big bang in rock history, “Rocket 88.”

Phillips’s biographer may require less of a primer. Peter Guralnick is known for his decorated two-part chronicle of Elvis Presley’s life and his reverent but thorough fan-friendly style.

“Sam Phillips” represents his most personal foray into American music. Mr. Guralnick knew Phillips for 25 years and spent nearly a decade after Phillips’s death in 2003 writing his story. That’s longer than most rock ’n’ roll marriages. Mr. Guralnick shares his love for Sam early in the book, and Phillips clearly held up his side of the deal, sharing intimate details and private documents.

Obviously, much more at the link.

If there is a better DVD on Sam Phillips or Sun Records, I would love to know. And yes, the Muscle Shoals DVD is still the best.