UPSTREAM CAPITAL SPENDING BEGINS DECLINE
Thursday 4/23/2015 17:00:18 EST - Standard & Poor's

Capital spending by upstream players is now in the early stages of a major pullback after years of steady increases. Collectively, the upstream names in S&P Capital IQ's STARS coverage universe are expected to spend about 30% less in 2015 for capital projects, based on S&P Capital IQ consensus estimates as of late March 2015. Looking ahead to 2016, total capex for this group of companies is expected to rise a modest 3%.

In 2010, the group was weighted toward natural gas. Today, ...