Last updateFri, 19 Apr 2019 3pm


End-User News

U.S. Oil and Gas Revenues at Four-Year High

The 50 largest U.S. exploration and production (E&P) companies increased capital expenditures for the first time since 2014, according to the EY U.S. Oil and Gas Reserves Study 2018. Companies also reported the highest oil reserves during the five-year study period (2013–2017), while US oil production posted an average 4% annual growth, even accounting for a modest decline in output in 2016.

The survey, which analyzes U.S. E&P results based on 2017 end-of-year U.S. oil and gas reserve estimates, found that study companies reported capital expenditures of $114.5 billion — 32% higher than 2016 and 5% higher than 2015. Similarly, study companies’ revenues amounted to $135.9 billion — up 32% from 2016 and the highest since 2014 as a result of improved commodity prices. 

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