Wintershall Dea joins the capex cutters
The independent producer is the latest to announce reduced spending in the new price and demand environment
German E&P and midstream firm Wintershall Dea will cut its planned 2020 development capex by 10pc from initial expectations as it joins the club of upstream operators focusing on trying to lower costs. But its measures may not be enough to deliver free cash flow (FCF). The company plans to spend €1.2-1.5bn ($1.3-1.7bn) on development capex in 2020. This is down from expectations but comparable to 2019 expenditure should spend come in at the very top of the range. Wintershall Dea’s exploration budget will, though, see a significant year-on-year reduction, down to €150-250mn in 2020 compared with €340mn last year. But, despite trumpeting its low production costs—$4.70/bl oe in 2019 compa
Also in this section
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal






