The company is in the process of obtaining a loan and negotiating to sell noncore assets as well as interest in the North Slope that it acquired in 2014.
Of the positions that will be eliminated 950 are in the Houston, where Chevron has about 8,000 employees.
The Marcellus and Utica is driving 85% of the growth in U.S. gas production due to the precision and efficiency of fracking in the region, the EIA says.
‘Companies access the capital markets when they are open. But if and once it opens, it should be a floodgate of issuance,’ analysts say.
E&Ps such as Diamondback continue to outperform their peers as larger, capitalized companies look to buy smaller companies and private equity is on the move, including a new Chinese-backed entrant.
The index has declined 18% since its peak in October 2014 and 17% since a year ago. Yet, crude and gas recovery increased during the first six months of 2015 and is on track to reach record production.
Bernstein cites Shell, Woodside projects in its sunny outlook for LNG at sea.
In an area where Goodrich spends no capex, the company sold 2,850 boe/d in production in the Eagle Ford but apparently did not receive credit for its undeveloped acreage.