Thursday, March 19, 2020

Targa Resources cuts one-third of budget amid record low oil prices - Houston Chronicle

Houston natural gas pipeline operator Targa Resources is cutting nearly one-third of its budget for new projects amid record low commodity prices.

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In a Wednesday afternoon statement, Targa reported that the company is cutting $400 million from its 2020 capital expenditure budget. Specializing in natural gas gathering pipelines that move natural gas from oil wells to processing plants and larger pipelines, the company plans to spend between $1.2 billion and $1.3 billion on new projects this year.

Publisher: Houston Chronicle
Date: 2020-03-19T08:45:00Z
Author: Sergio Chapa Houston Chronicle
Twitter: @houstonchron
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While you're here, how about this:

Crescent Point slashes capital budget 35 per cent | Estevan Mercury
Publisher: Estevan Mercury
Date: 9CCB455B7FDA1B44FB0E618929FC0140
Author: Brian Zinchuk
Twitter: @Estevan_Mercury
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U.K. Budget 2020: Impacts On Business, Housing, And Your Money

This an extraordinary Budget in an extraordinary time, and there are many questions left unanswered ... [+] over how the government will pay for their considerable borrowing spend.

Unofficially called a 'coronavirus budget' because of the last-minute fiscal changes implemented to address the impact of COVID-19 on the economy and to support business and personal finance, there are fewer direct budgetary inclusions for housing than I had expected. Nevertheless, the overall package does include several notable adjustments for the property industry, and there are a few interesting touchpoints.

Publisher: Forbes
Date: 2020-03-13
Author: Gary Barker
Twitter: @forbes
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Robert Abela to announce budget to mitigate coronavirus crisis

The Prime Minister has announced several measures to help improve liquidity for companies and sustain worker wages to help companies retain people in employment

A rescue package worth €1.8 billion has been unveiled to mitigate the impact of Covid-19 on the economy.

The package was announced by Prime Minister Robert Abela, Finance Minister Edward Scicluna and Economy Minister Silvio Schembri during a press conference at Castille on Wednesday night.

Publisher: MaltaToday.com.mt
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Many things are taking place:

WPX Energy cuts capital expenditures budget by 25% to preserve cash flow

TULSA — WPX Energy announced this week it is reducing its planned capital expenditures for 2020 by $400 million.

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Officials said they expect the company will be able to maintain an average daily production of about 150,000 barrels of oil and will still generate at least $150 million of free cash flow.

It will be August of 2023 before WPX faces a significant debt reduction hurdle, when it will be required to retire $406 million in outstanding notes, they also said.

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Publisher: Oklahoman.com
Date: 2020-03-19T01:04:33-05:00
Twitter: @theoklahoman_
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Hess lowers 2020 capital and exploration budget by $800m

Reflex Marine provides innovative and risk focused crew transfer solutions, delivering value to our clients by setting the highest possible standards for offshore personnel transfer.

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Videotec prides itself on manufacturing in-house a wide range of CCTV products recognized for high performances, flexibility and style.

Publisher: Offshore Technology | Oil and Gas News and Market Analysis
Date: 2020-03-18T16:38:46 00:00
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Callon Drops Operational Budget By $275MM  | Rigzone

Callon Petroleum Co. has adjusted operational plans for the year to account for ongoing turmoil in the oil market. The company is changing its capital plan for 2020 to $700- to $725 million from $975 million.

The company is also reducing its operated rig count of nine to five before the end of the second quarter of 2020 and taking its frac crew count from five to two after completing projects in process. It will employ three to four drilling rigs (two to three in the Permian Basin and one in the Eagle Ford) and one to two completion crews focused on a set of shorter cycle projects, according to the company.

Twitter: @Rigzone
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Oakmont officials tap a Plum company to handle this year's street paving - Plum

Borough Manager Scot Fodi said Tresco was awarded last year’s paving contract and does good work.

“We are confident they will complete the program on a timely schedule once all administrative matters related to the program are completed,” Fodi said.

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• Allegheny Avenue, from the entrance to the Oakmont Water Authority to Brenntag’s northeast entrance.

Borough officials originally had Virginia Avenue on its paving list, but scrapped it for Gumway and the Oakmont Avenue section.

Publisher: Plum
Date: 2020-03-18T22:25:04 00:00
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