Page 8 - December 15 2014
P. 8
PAGE 8 THE ANCHOR, MONDAY, DECEMBER 15, 2014

ConocoPhillips sets reduction


in 2015 capital budget


Oil companies announce capital

budget decreases as crude prices drop

38% since midsummer


by Adrienne Tait while maintaining our municipal budget.
financial strength. We Russell told the
R e c e n t b u d g e t are fortunate to have council, “Yesterday
announcements from significant flexibility in [December 8] the TSX
major oil and gas our capital program. dropped nearly 300
producers could have an Spending on several points and oil companies
impact on the local major projects has have begun to announce
economy. peaked and we will get large capital budget
On December 8, the benefit of production decreases. For example,
C o n o c o P h i l l i p s uplift from those Precision Drilling
announced a decrease of projects over the next announced a 44%
approximately 20 per few years. In addition, reduction in their capital
cent, to $13.5 billion, in we have significant budget. Vermillion
their 2015 capital identified inventory in Energy has reduced their
budget. According to the unconventionals, capital budget 22%.
their press release, “The where we also retain a Crude oil prices have SemCAMS Community Investment Team member Joan Easton presented a
reduction in capital high degree of capital fallen nearly 38% since
r e l a t i v e t o 2 0 1 4 flexibility." midsummer. cheque for $2500 to Nancy Tailleur Hill, manager of the Edson Recreation
primarily reflects lower With a $1.5 billion To think that reduced Complex for the Edson and District Curling Club. The monies presented will
spending on major decrease in their drilling oil prices will only hurt be used to purchase a new ice surface scraper.
projects, several of program both the t h e p r o v i n c i a l
which are nearing Montney and Duvernay government … fails to
ANCHOR HOLIDA
completion, as well as plays were listed as take into account the ANCHOR HOLIDAY PUBLISHING SCHEDULEY PUBLISHING SCHEDULE
the deferral of spending areas in which the potential of reduced
December 15: Regular Issue.
on North American company with “defer and/or eliminated December 15: Regular Issue.
unconventional plays.” significant investment.” provincial grant funding
December 22: Christmas Issue.
"We are setting our Although that could all and the impact industry December 22: Christmas Issue.
2015 capital budget at a change should the has on Yellowhead
level that we believe is markets re-bound. County's bottom line.” The Anchor will be closed from Dec. 22 to Dec. 28.
The Anchor will be closed from Dec. 22 to Dec. 28.
prudent given the The announcement While industry leaders
current environment," from Conoco as well as and financial analysts We will be open Monday, Dec. 29, 30 and 31 from 9 am to 5 pm., closed
We will be open Monday, Dec. 29, 30 and 31 from 9 am to 5 pm., closed
said Ryan Lance, reduction announced are keeping a close eye January 1 and 2. We will reopen January 5, 2015 to resume regular hours.
January 1 and 2. We will reopen January 5, 2015 to resume regular hours.
chairman and chief from other companies on market prices recent
executive officer. "This was a concern for county releases indicate that We will be taking our Christmas break so there will be no edition of the Anchor
We will be taking our Christmas break so there will be no edition of the Anchor
plan demonstrates our c o u n c i l l o r D a v i d drilling programs rather the week of December 29, 2014.
the week of December 29, 2014.
focus on cash flow Russell when it came to than production will see
n e u t r a l i t y a n d a addressing a possible reduced activity in 2015. The next regular edition of the Anchor will be on Monday, January 5, 2015.
The next regular edition of the Anchor will be on Monday, January 5, 2015.
competitive dividend, i m p a c t t o t h e i r














The Edson and District Chamber of Commerce would like to say Thank You to the
following businesses and people:



2014 Santa Parade Kids Christmas Movie


Mountainside Sales & Rentals for our trailer Many thanks to our sponsors:
Edson Honda for the use of their shop Telus
The West family for the use of their generators Edson Sobeys
Calum Murray for the huge assortment of lights and Walmart
decor Talisman Energy
Malissa Parkes for the decor Edson Concrete
Carlo Klemm, the best Santa Edson has ever seen! McPhee Construction
The Scotia Bank for providing hot chocolate Century 21
ATB Financial for providing chili Wilden's Service
The Town of Edson for taking care of the barricades Town of Edson
Our local RCMP for heading our parade The Nova Theatre
To our Chamber committee: Pam Thesen, Becky Carlo Klemm
Bayley, Anna Knoll, Chris Valliere-Kowalchuk, and to my helpers: Steph from Telus, Janice and
Keef Little and Luke Holuboch for helping me Steph from the Edson Leader and to my amazing
kids, Gabe and Josh Holuboch.
decorate!


Every year this wonderful community and local businesses make these holiday events possible for us to

host. We appreciate every single one of you! Thank you.

The Edson & District Chamber of Commerce would like to wish you and yours a happy holiday season!
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