• 5 minutes Oil prices forecast
  • 8 minutes Nuclear Power Can Be Green – But At A Price
  • 11 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 16 minutes Europe Slipping into Recession?
  • 12 hours U.S. Treasury Secretary Mnuchin Weighs Lifting Tariffs On China
  • 3 hours Socialists want to exorcise the O&G demon by 2030
  • 4 hours Chevron to Boost Spend on Quick-Return Projects
  • 19 hours What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 2 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 11 hours UK, Stay in EU, Says Tusk
  • 2 hours Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 1 hour Connection Between Climate Rules And German's No-Limit Autobahns? Strange, But It's Exist
  • 4 hours Conspiracy - Theory versus Reality
  • 16 hours Maritime Act of 2020 and pending carbon tax effects
  • 1 day Venezuela continues to sink in misery
  • 1 day Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 11 hours Regular Gas dropped to $2.21 per gallon today

A New Era In The Oil Industry

Shale

Friday November 3, 2017

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Oil majors covering dividends

(Click to enlarge)

- BP (NYSE: BP) posted about $1.8 billion in earnings in the third quarter, twice as much as the same quarter in 2016.
- The results allowed the British oil giant to cover both its spending and its dividends with cash flow, a remarkable turnaround from the company that was piling on debt for much of the past three years.
- BP says it can breakeven at roughly $47 per barrel. It also announced an end of its scrip dividend program, as well as the introduction of share buybacks as a way of rewarding investors.
- Other oil majors posted similar numbers – many of them are able, or close to being able, to cover their dividends with cash flow.

2. Anadarko offers a way forward

(Click to enlarge)

- Growing oil production as fast as possible is out, and giving your extra cash to shareholders is in. Anadarko Petroleum (NYSE: APC) announced in September that it would spend $2.5 billion on share buybacks, which led to a spike in its share price.
- That puts Anadarko at “the vanguard” of shale companies who are focusing on a shift in strategy…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin



Oilprice - The No. 1 Source for Oil & Energy News