CAN E&Ps RESIST EARTH'S PULL ON CAPEX?

摘要

For much of his 35-year career, Chaparral Energy Inc. CEO Earl Reynolds saw a plain, clear strategy for oil and gas companies. The industry ran from one big discovery— sometimes onshore, sometimes offshore or through the extraction of coalbed methane—to the next. But always, companies ran and spent. "At the end of the day, the overall strategy was to chase the resource," he said. In those days, E&Ps sought new resources to grow, which required reinvesting capital.