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Title : Producing More, Spending Less -- March 1, 2019
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Producing More, Spending Less -- March 1, 2019

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For U.S. shale companies, 2019 will see a boost in production and a decrease in capital spending, according to analysis by Rystad Energy.

After analyzing fourth quarter 2018 earnings reports from 45 U.S. shale operators, Rystad found that, on average, companies planned on 15 percent growth in oil production while cutting capital spending by five percent.

However, oil supermajors ExxonMobil and Chevron plan on spending more this year on the heels of strong 4Q 2018 earnings propelled by Permian production.

“If this growth rate is representative for the entire 9.5 million barrels per day oil output currently achieved in the Lower 48 states excluding Gulf of Mexico, we are then talking about nearly 1 million barrels per day of oil production growth from the U.S.,” said Abramov.

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