| CONSOL Energy Lowers Capital Budget, Cost Cut Sustained - Analyst Blog | |
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Canonsburg, PA-based CONSOL Energy Inc. CNX announced its revised exploration and production (E&P) capital expenditure forecast for 2015.
Excluding expenses for business development, permitting and land acquisitions, CONSOL Energy trimmed its E&P budget for 2015 to around $920 million from $1 billion projected during the fourth-quarter earnings call.
Of the total budget, $100 million will be used for gathering purposes in Marcellus Shale and 52% of the remaining amount will be directed toward dry-gas development.
Despite the budget cut, the company continues to target a production growth rate of 30% in 2015. However, CONSOL Energy could increase the spending in the second half of 2015 provided the forward prices of gas turn favorable.
The company’s production in 2016 is expected to exceed 20% over production levels in 2015. The 2016 guidance of course depends upon its production activities undertaken this year.
To survive the low commodity price environment, CONSOL Energy also perseveres to cut costs through efficiency improvement efforts. All this is being done with an objective to keep its 2015 leverage ratio flat with 2014.
Industry-wide Concern
Capital budget cut has become an industry-wide phenomenon in the oil and gas space.
ConocoPhillips COP cut its 2015 capital budget by 20% to $13.5 billion.
Continental Resources CLR slashed its 2015 capital expenditure to $2.7 billion from an earlier projection of $4.6 billion.
Anadarko Petroleum Corp. APC lowered its capital expenditure budget for 2015 to the range of $5.4–$5.8 billion from $9.3 billion spent in 2014.
Zacks Rank
CONSOL Energy currently carries a Zacks Rank #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CONSOL ENERGY (CNX): Free Stock Analysis Report CONOCOPHILLIPS (COP): Free Stock Analysis Report ANADARKO PETROL (APC): Free Stock Analysis Report CONTL RESOURCES (CLR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Anadarko
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CODE : APC |
ISIN : US0325111070 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Anadarko est une société d’exploration minière basée au Canada. Anadarko est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 38,6 milliards US$ (34,5 milliards €). La valeur de son action a atteint son plus bas niveau récent le 12 mai 1995 à 10,00 US$, et son plus haut niveau récent le 23 mai 2014 à 99,93 US$. Anadarko possède 531 000 000 actions en circulation. |