Shale drillers continue to dramatically scale back their spending, but they’re only moderately reducing their crude production volumes as Texas discusses mandatory cutbacks in oil barrels. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Big capital budget cuts from shale producers in March have averaged close to 30%, but the companies that have announced reductions to their 2020 production guidance are only seeing their volumes falling by closer to 5%-10%. Some of the newest shale players announcing cutbacks include Permian producer Centennial Resource Development, which is slicing its capital spending 50% to $320 million and pulling four of its five rigs, and the smaller Amplify Energy that will trim its spending 37% down to just $29 million. But neither Centennial nor Amplify revealed updated production numbers. Although […]