- Statoil (NYSE:STO) says it will only slightly increase its U.S. shale oil and gas production in the near term due to reduced spending, well below a potential for a 50% surge.
- STO, which produces ~10% of its oil and gas from its U.S. shale operations in the Bakken, Eagle Ford and Marcellus formations, also is cutting back investments in the area, as shale projects are competing for capital within the company, said its head of U.S. onshore activities.
- STO abandoned its 2020 production target earlier this year and cut its capex budget, saying it needs to save cash and return more to shareholders after a decade of ramping up spending.
Are you Bullish or Bearish on ?
Results for ()
Thanks for sharing your thoughts.
From other sites
at Zacks.com (Wed, 4:38PM)
at Zacks.com (Tue, 2:50PM)
at Zacks.com (Mon, 3:09PM)
at Benzinga.com (Feb 6, 2015)
at CNBC.com (Jan 15, 2015)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs