Factbox: North American oil producers sound the horn for output cuts for 2020

PDC Energy

14/04/2020 18:13

April 14 (Reuters) - North American oil producers have so far announced production cuts of about 550,000 oil equivalent
barrels per day (boepd) for the year, data compiled by Reuters showed. 
    The move is happening as oil producing nations around the world agree to cut oil supply by around 19.5 million barrels per
day (bpd) to prop up prices. 
    The United States and Canada gave indirect commitments to cut output, but are yet to commit publicly to fixed quotas. 
    While more companies are expected to disclose production cuts alongside earnings reports in the coming weeks, here are a list
of companies that have so far announced them:
    
 Company                     RIC       2020 revised production  2020 previous production  Absolute     Date of       Story link
                                       (mid-point in boepd)     (mid-point in boepd)      change       revision      
 Occidental Petroleum Corp~   OXY.N               1,290,000.00              1,375,000.00   -85,000.00  March 25      nPn9F23Pya
 ConocoPhillips*              COP.N               1,230,000.00              1,250,000.00   -20,000.00  March 18      nBw91HFBwa
 Suncor Energy Inc            SU.TO                 760,000.00                820,000.00   -60,000.00  March 23      nGNX14k4Lj
 Chevron Corp                 CVX.N                 500,000.00                625,000.00  -125,000.00  March 24      nBw8LS4b3a
 EOG Resources^               EOG.N                 456,000.00                509,500.00   -53,500.00  March 16      nPn6bCnd5a
 Cenovus Energy Inc           CVE.TO                459,000.00                484,000.00   -25,000.00  March 10      nGNX2xjmSR
 Hess Corp                    HES.N                 327,500.00                332,500.00    -5,000.00  March 17      nBwbXKbXga
 Continental Resources*       CLR.N                 323,375.00                357,415.00   -34,040.00  March 19      nPnbfwjZQa
 Diamondback Energy Inc       FANG.O                302,500.00                317,500.00   -15,000.00  March 31      nGNX56Y6Jp
 PDC Energy Inc               PDCE.O                200,000.00                210,000.00   -10,000.00  March 11      nGNX3pD7t8
 Husky Energy Inc             HSE.TO                287,500.00                302,500.00   -15,000.00  March 12      nGNX3Jm0Wy
 Seven Generations Energy     VII.TO                187,500.00                202,500.00   -15,000.00  March 10      nGNX2xjmSR
 ARC Resources Ltd            ARX.TO                152,500.00                158,000.00    -5,500.00  March 13      nCNW686g1a
 WPX Energy^                  WPX.N                 150,000.00                160,000.00   -10,000.00  March 17      nBw9Gnm6Ca
 Crescent Point Energy Corp   CPG.TO                132,000.00                142,000.00   -10,000.00  March 16      nPn6Fh4cwa
 Vermilion Energy Inc         VET.TO                 96,000.00                101,500.00    -5,500.00  March 16      nCNWL8zjma
 MEG Energy Corp              MEG.TO                 94,000.00                 95,500.00    -1,500.00  March 10      nCNWRBFGYa
 Baytex Energy Corp           BTE.TO                 87,000.00                 95,000.00    -8,000.00  March 18      nGNX9CYGt7
 Birchcliff Energy Ltd        BIR.TO                 79,000.00                 81,000.00    -2,000.00  March 11      nGNX1h7dc3
 Paramount Resources Ltd      POU.TO                 72,500.00                 77,500.00    -5,000.00  March 19      nCNWn8Dbwa
 Whitecap Resources Inc       WCP.TO                 67,500.00                 71,500.00    -4,000.00  March 17      nCNW08xW3a
 Talos Energy Inc             TALO.N                 65,400.00                 68,500.00    -3,100.00  March 23      nPn2QJmn8a
 Frontera Energy Corp         FEC.TO                 57,500.00                 62,500.00    -5,000.00  March 23      nCNWSqSLda
 NuVista Energy Ltd           NVA.TO                 55,500.00                 59,000.00    -3,500.00  March 16      nGNX87xB2N
 Denbury Resources Inc        DNR.N                  51,500.00                 54,500.00    -3,000.00  March 31      nGNX7FPFR7
 Kelt Exploration Ltd         KEL.TO                 35,000.00                 39,750.00    -4,750.00  March 17      nNFCzhpXk
 Athabasca Oil Corp           ATH.TO                 30,750.00                 36,750.00    -6,000.00  April2        nGNX1bP2cn
 Bonanza Creek Energy Inc     BCEI.N                 24,500.00                 27,500.00    -3,000.00  March 12      nGNX4qJdvs
 Tamarack Valley Energy Ltd   TVE.TO                 22,000.00                 24,000.00    -2,000.00  March 18      nNFC8blbGm
 Pipestone Energy Corp        PIPE.V                 17,500.00                 19,000.00    -1,500.00  March 12      nGNX2pXtrB
 TransGlobe Energy Corp       TGL.TO                 13,800.00                 15,000.00    -1,200.00  March 11      nGNXGl99F
 PetroShale Inc               PSH.V                  11,500.00                 12,500.00    -1,000.00  March 26      nCNWZ64pfa
 Gear Energy Ltd              GXE.TO                  6,000.00                  7,000.00    -1,000.00  March 11      nCNW79pnla
                                                                                                                                 
 Total                                            7,644,825.00              8,193,915.00  -549,090.00                            
 
Footnotes:
~ Chevron's outlook is only for Permian production
^ EOG and WPX have announced only oil production cuts (disclosed in barrels per day), not total production 
* According to Reuters calculations

 (Compiled by Shanti S Nair, Arathy S Nair and Shradha Singh in Bengaluru; Editing by Bernard Orr)
 ((arathys.nair@thomsonreuters.com; +1 646 223 8780 (Extn 2726); Twitter: https://twitter.com/ArathySom;))