New Cash Flow Records -- Oil And Gas Producers -- Miichael Kern -- Oilprice -- August 26, 2022

From BMO Capital Markets in a new report cited by Upstream. 

Link to oilprice.com.

• Data points from BMO:
• 120 oil and gas firms globally
• new records in cash flows and offer the best return on capital employed (ROCE) in fifteen years.
• 2020: $17 billion
• last year (2021): $300 billion in free cash flow
• 2023: ROCE could hit highest level since 2008 financial crisis; could top 25% by 2023;
• Data points from Deloitte:
• global firms could generate a record $1.4 trillion (2022)
• $1.4 trillion (2022) vs $300 billion (2021): 5x
• Capital discipline has resulted in the oil and gas industry being “in one of its healthiest periods currently, with its lowest ever leverage ratio (20%) and one of its highest ever dividend yields (6%), compared to other sectors,” according to Deloitte.