Energy Companies to Slash Capital Spending

According to an Evercore investment bank report, the oil price plunge will force energy companies to slash capital spending in North America, Europe and Asia in 2015.

Evercore estimated that oil companies would cut spending on exploration and production globally this year by 10%-15%, and by 25%-30% in North America.

An oilfield services analyst at Evercore said after surveying 300 global oil and gas companies on their 2015 spending plans, “To sum it up, a sharp recession is coming to the global oilfield.”

To view the full Evercore IS report, click here.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.