Anadarko Petroleum Corp. swung to a first-quarter loss as revenue and commodity prices dipped. The dip in commodity prices has prompted energy companies to slash capital spending, trim output forecasts and idle drilling activities to shore up cash. For full story, click here
Even more than royalties or sagging commodity prices, the Alberta government needs to be worried about dwindling natural gas production to fill its gaping fiscal hole, a record $4.7-billion budget deficit. Don Herring, president of the Canadian Association of Oilwell Drilling Contractors, stated: Natural gas production is falling and it’s taking their revenue stream with [...]
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