OMV lowers capex, finds drilling success on Romania’s Neptun Deep block

OMV AG reported in a May 11 conference call that its overall capital spending was down in this year’s first quarter compared with the same quarter in 2015. Spending for the first quarter was 34% lower than the same period in 2015. Upstream exploration expense was down 24% with a decrease of 13% in dollars per boe for upstream operating expenses in first-quarter 2015.

Source: News