Inpex exploratory well offshore southern Japan encounters gas

Inpex Corp., Tokyo, said an offshore exploratory well encountered a thin natural gas reservoir in a shallow zone and “unexpected, strong gas indications” in the deepest zone, “suggesting the presence of a high-pressure gas column.” Source: News

Statoil cuts capex by another $1 billion

Statoil ASA is lowering its capital expenditure guidance for 2016 by another $1 billion after taking a third-quarter adjusted net loss of $261 million, down from adjusted earnings of $445 million a year earlier. Source: News

WoodMac sees US independents seeking cash-flow neutrality

Independent operators are likely to remain cautious while setting 2017 budgets, said WoodMackenzie Ltd. analysts, adding that higher oil prices are needed before independents are willing to commit to investments that would meaningfully boost production growth. Source: News

ExxonMobil’s third-quarter earnings slide 38%

ExxonMobil Corp. recorded third-quarter earnings of $2.7 billion, down from $4.2 billion a year earlier. The Irving, Tex.-based multinational firm says the results reflect lower refining margins and commodity prices. Source: News