• 31 mins The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 2 days European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 4 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 17 hours "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days Demonising fossil fuels has caused major grid problem in Australia
  • 4 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 6 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 330 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 8 days ESG Topic - "German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing" - ZeroHedge Bloomberg and others
Editorial Dept

Editorial Dept

More Info

Oil Industry Spending May Soon Rebound

Friday January 5, 2018

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Capex slightly bottoming out

(Click to enlarge)

- Upstream capital and exploration expenditures among E&Ps is nearing a rebound, but the increase from 2016 lows are a drop in the bucket compared to how far spending has fallen from 2014 levels.

- Spending hit $900 billion in 2014, but had plunged by nearly half two years later. Rystad energy predicts that spending will bottom out this year at $510 billion, essentially flat since 2016 when spending dropped to $512 billion.

- North American spending saw the sharpest decline, but also saw a rebound in 2017 by 18 percent.

- North America will also see the largest growth going forward at 8 percent CAGR through 2025.

- The steep spending declines has translated to the lowest volume of new oil discovered in seven decades. At only 7 billion barrels of oil equivalent discovered in 2017, it was the worst total since the 1940s.

2. Permian production per-rig declining

(Click to enlarge)

- The amount of oil produced per rig in the Permian basin is declining, with 10 consecutive months in a row of falling production-per-rig. On its face, that appears to…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News