Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bob A Louie who wrote (4779)	12/10/1997 10:56:00 PM
From: Thean	Read Replies (2) of 95453

Another read on Texaco's announcement: <<Texaco had planned capital spending of $3.5 billion in 1997, but overspent that by $300 million, the company said. Texaco has a total capital budget of $4.6 billion for 1998 and plans $26 billion for 1998-2002, of which 70 percent will go on the upstream sector, 26 percent on the downstream and 4.0 percent for other items. >> I think e (exploration) = upstream and p (production) = downstream. Any other view on this? Now, 98 exploration spending = 4.6 x 0.7 = 3.22B Total exploration spending in year 99 thro 02 = (26-4.6)x.7 = 14.98B Possible Scenario 1997 exploration spending = 3.8 x ? 1998 exploration spending = 3.22B 1999 exploration spending = 3.42B (linear increase of 0.20 or +6.2%) 2000 exploration spending = 3.63B (linear increase of 0.21 or +6.1%) 2001 exploration spending = 3.85B (linear increase of 0.22 or +6.1%) 2002 exploration spending = 4.08B (linear increase of 0.23 or +6.0%) Net, Texaco spending in the next 4-5 years on exploration is in the single digit, 6% plus range. Question: have we been expecting a double digit spending growth from the majors like Texaco?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next