$48.03→ | 9/12/2017 | 09/12/2016 | 09/12/2015 | 09/12/2014 | 09/12/2013 |
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Active Rigs | 56 | 37 | 69 | 197 | 182 |
RBN Energy: diversified E&Ps maintain capital spending despite oil price volatility. RBN Energy highlights other companies at their post today, but the one that caught my eye was one company that is very active in the Bakken: WPX.
Capex:
Production:
As one example, compare WPX with Bill Barret Corp. Look at CAPEX change, and then look at production change, year-over-year.
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Saudi Open To Production Cut Extension
Some time ago a writer suggested it was the norm that once OPEC (Saudi Arabia) started to cut production, it would continue the cuts. That sounds to be playing out again this time.
Saudi Arabia says it is open to another OPEC cuts extension. The current agreement is in effect to the end of the first quarter, March 31, 2018.
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And This Is Why
Russia's Rosneft prepares for oil at $40 to $43 in 2018. If that's Brent, then WTI a few bucks lower, and Bakken even lower.
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