{"id":4266,"date":"2015-01-08T19:26:15","date_gmt":"2015-01-09T00:26:15","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4266"},"modified":"2015-01-08T19:26:15","modified_gmt":"2015-01-09T00:26:15","slug":"cowen-global-oil-and-gas-exploration-spending-to-slide-17","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4266","title":{"rendered":"Cowen: Global Oil and Gas Exploration Spending to Slide 17%"},"content":{"rendered":"<p><span class=\"Apple-style-span\">Cowen: Global Oil and Gas Exploration Spending to Slide 17%\u00a0<\/span><\/p>\n<p><span class=\"Apple-style-span\">HOUSTON, Jan 7 (Reuters) &#8211; The world&#8217;s oil and gas exploration companies are expected to cut capital expenditures 17 percent this year as a deep slump in crude oil prices takes a toll on budgets, according to a survey by Cowen and Company released on Wednesday. <\/span><\/p>\n<p><span class=\"Apple-style-span\">The survey, based on an average oil price of $70 per barrel, estimates that global exploration and production expenditures will slide 17 percent to $571 billion. If oil prices average $60 per barrel, spending should drop by 30 percent to 35 percent, according to the survey of 476 oil companies. <\/span><\/p>\n<p><span class=\"Apple-style-span\">Crude oil futures traded in New York closed under $50 per barrel on Wednesday, weighed down by weak global demand and growing supplies. &#8220;We continue to advocate a cautious approach toward investing in oil service and drilling stocks,&#8221; said the Cowen analysts in a note to clients. <\/span><\/p>\n<p><span class=\"Apple-style-span\">&#8211; See more at: http:\/\/www.rigzone.com\/news\/oil_gas\/a\/136662\/Cowen_Global_Oil_and_Gas_Exploration_Spending_to_Slide_17#sthash.Qnf0PflP.dpuf<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cowen: Global Oil and Gas Exploration Spending to Slide 17%\u00a0 HOUSTON, Jan 7 (Reuters) &#8211; The world&#8217;s oil and gas exploration companies are expected to cut capital expenditures 17 percent this year as a deep slump in crude oil prices takes a toll on budgets, according to a survey by Cowen and Company released on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[2513,244,2512,1775],"class_list":["post-4266","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-cowen-and-company","tag-economics-2","tag-gas-exploration","tag-oil-price-collapse"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4266"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4266\/revisions"}],"predecessor-version":[{"id":4267,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4266\/revisions\/4267"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}