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Old 12-08-2014, 09:39 AM
 
34,619 posts, read 21,621,539 times
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ConocoPhillips set its 2015 capital budget at $13.5 billion, a decrease of 20 percent over this year, the Houston oil and gas company said Monday.

Fuel Fix » ConocoPhillips cutting capital spending by 20 percent
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Old 12-08-2014, 10:53 AM
 
65 posts, read 114,576 times
Reputation: 27
It seems that they will at least keep eagle ford project, which is a better news.

BP decided to cut down headcount to save cost so they could somehow manage their huge penalty bill.
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Old 12-08-2014, 11:25 AM
 
18,131 posts, read 25,296,596 times
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I don't buy the idea of "less profit = less jobs"
If they need you they will hire you, if they don't need you they'll get rid of you
That simple
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Old 12-08-2014, 11:59 AM
 
86 posts, read 116,780 times
Reputation: 49
You may be right... if you're irreplaceable.

I hear some ex-pats' contracts that are coming to end are not getting their extensions.

BP's cutting jobs: BP to wield jobs axe as oil price slump takes toll | The Sunday Times

Bottom line: We should see a decline in discretionary spending in the next few months..
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Old 12-08-2014, 12:00 PM
 
27 posts, read 105,702 times
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Quote:
Originally Posted by julia1999 View Post
It seems that they will at least keep eagle ford project, which is a better news.

BP decided to cut down headcount to save cost so they could somehow manage their huge penalty bill.
Do you know about where Conoco holds leases at in the EagleFord? I only ask because I've never seen them.
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Old 12-08-2014, 12:59 PM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,739,494 times
Reputation: 4191
I think they are mostly in DeWitt County.
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Old 12-08-2014, 01:25 PM
 
65 posts, read 114,576 times
Reputation: 27
The reason I mention about Eagle ford, because a close friend of mine is working on a contracted eagle ford project for COP. At least his job could be saved. I heard that COP already sold this asset to another company, but they still continue this project as originally planned. May be they sold the asset at such a good price, so they are willing to carry out extra work for the buyer.
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Old 12-08-2014, 06:22 PM
 
87 posts, read 117,566 times
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Quote:
Originally Posted by BCHTX View Post
Do you know about where Conoco holds leases at in the EagleFord? I only ask because I've never seen them.
Karnes and Live Oak counties
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