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2020-01-06 11:00:00

OIL GAS CAPEX DOWN 9%

OIL GAS CAPEX DOWN 9%

U.S. EIAFinancial Review: Third-Quarter 2019

Key findings

Brent crude oil daily average prices were 18.2% lower in third-quarter 2019 than in third-quarter 2018 and averaged $62 per barrel.

Dividends plus net share repurchases equaled 24% of cash from operations, substantially lower than the six-year high of 33% set in first-quarter 2019.

Cash from operations in third-quarter 2019 was $128 billion, 12% lower than in third-quarter 2018.

Capital expenditures were $75 billion in third-quarter 2019, 9% lower than in third-quarter 2018.

The percentage of companies reporting positive upstream earnings declined from 88% in second-quarter 2019 to 78% in third-quarter 2019; the percentage of companies reporting positive cash flow increased marginally from 48% to 52%.

 

Full PDF version

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Tags: OIL, GAS, INVESTMENT