U.S. oil and gas companies cut capex and rig plans as crude dips
December 10, 2014 at 10:21 AM EST
(Adds Goodrich Petroleum, Oasis Petroleum) Dec 10 (Reuters) - U.S. oil and gas producers are scaling back capital spending plans for 2015, following a sharp decline in oil prices over the past six months. ConocoPhillips said on Monday it would cut its 2015 capital budget by 20 percent, or about $3 billion, compared with this year, marking the biggest spending cut by a U.S. oil and gas company in dollar terms. Global crude prices have fallen by about 40 percent since June due to over