Five key takeaways from EIA’s review of Q3 2018

| By Mark Young

The U.S. Energy Information Administration (EIA) has released its latest quarterly review of financial performance in the global oil and gas industry, which was compiled using energy company data extracted from Evaluate Energy.

Here are five key takeaways from the report, which can be downloaded in full at this link.

1) On the back of significant year-over-year increases in global oil prices, energy companies’ cash from operations in Q3 2018 was $144 billion, a 45% increase from Q3 2017.

2) Energy companies’ free cash flow – the difference between cash from operations and capital expenditure – was $149 billion for the four quarters ending September 30, 2018, the largest four-quarter sum during the five year period between 2014 and 2018.

3) Energy companies have now reduced debt for eight consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014. For more on debt reduction, click here.

4) Global liquids production increased 2.7% and natural gas production increased 3.9% year over year in third-quarter 2018.

5) Capital expenditure for the 106 companies in the report hit $80 billion in Q3 2018, which is 11% higher than overall energy company spending in Q3 2017.

The full report, along with the list of companies that were used to create the analysis above, is available to download from the EIA at this link.

Click here for a demonstration of the Evaluate Energy database that was used by the EIA to create the report.

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