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FACTBOX-North American oil producers slash budgets to cope with crude price rout

rout@ (Adds Noble Energy, Husky, Gran Tierra, Arc Resources, Pipestone and Bonanza Creek) March 13 (Reuters) - North America oil and gas producers have slashed their capital spending by about 30% on average after crude prices crashed early this week, according to data compiled by Reuters. The latest spending cuts come as the coronavirus outbreak crimps demand and a price war between top producers Saudi Arabia and Russia threatens to flood the oil market. Companies including Occidental Petroleum Corp, Apache Corp, Cenovus Energy and Husky Energy Inc have slashed their spending for the year. Chevron Corp said it was looking at ways to trim spending that could lead to lower near-term oil production. The company, however, did not provide details. The oil major's 2020 organic capex guidance was $20 billion. Here is a list of companies that have cut their budgets for the year:

% change

Occidental Petroleum Corp $3,600.00 $5,300.00

-32.08%

Marathon Oil Corp $1,900.00 $2,400.00

-20.83%

Cenovus Energy Inc^^ $690.00 $1,020.00

-32.35%

Apache Corp $1,100.00 $1,750.00

-37.14%

Murphy Oil Corp $950.00 $1,450.00

-34.48%

Meg Energy Corp^^ $145.00 $182.00

-20.33%

Birchcliff Energy Ltd^^ $207.00 $254.00

-18.50%

TransGlobe Energy Corp* $7.10 $37.10

-80.86%

PDC Energy Inc $814.00 $1,050.00

-22.48%

Talos Energy^ $408.00 $533.00

-23.45%

Gear Energy $13.00 $50.00

-74.00%

Devon Energy $1,300.00 $1,800.00

-27.78%

Noble Energy Inc $1,200.00 $1,700.00

-29.41%

Husky Energy Inc^^ $1,740.00 $2,390.00

-27.20%

Gran Tierra Energy Inc $70.00 $210.00

-66.67%

Arc Resources Ltd ^^ $217.00 $361.00

-39.89%

Pipestone Energy Ltd ^^ $43.00 $108.00

-60.19%

Bonanza Creek Energy Inc $90.00 $225.00

-60.00%

$14,494.10 $20,820.10 -30.38%

* As calculated by Reuters

Notes:

** Diamondback Energy said it will reduce budget but did not provide a new estimate; 2020 capex guidance was $2.8 billion to $3 billion.

** Matador Resources and California Resources Corp said they were planning to reduce their budgets. Matador's capex was $690 million to $750 million, California Resources was planning to spend about $260 million to $500 million.

** Ovintiv Inc said it was prepared to reduce investments throughout the year. Its 2020 capex guidance was $2.7 billion.

** QEP Resources Inc expects to cut planned 2020 and 2021 combined capex by more than $300 million; 2020 capex guidance was $545.5 million to $595 million.

($1 = C$1.38)

(Reporting by Arunima Kumar in Bengaluru; Editing by Maju Samuel)