• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 32 mins The Political Debacle: Brexit delayed
  • 2 hours Tidal Power Closer to Commercialisation
  • 16 mins New Rebate For EVs in Canada
  • 11 hours Oil-sands recovery by solvents has started on a trial basis; first loads now shipped.
  • 21 mins No Mercy: EU Fines Google $1.7 billion For Abusing Online Ads Market
  • 7 hours US-backed coup in Venezuela not so smooth
  • 4 hours Solar to Become World's Largest Power Source by 2050
  • 5 hours Read: OPEC THREATENED TO KILL US SHALE
  • 3 hours Will Trump Cave Again
  • 15 hours Biomass, Ethanol No Longer Green
  • 14 hours Malaysia Oil & Gas Updates
  • 10 hours Oil stocks are heating up again! What's on your Watchlist?

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…




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