Insight
Can balance sheets support growth?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Net debt has shot up by 22% or US$142 billion since 2014 for the companies in our Corporate Service coverage. Average gearing is now 36%, with the Focused US Independents the most leveraged at 60%. But oil prices above US$54/bbl are required for a return to free cash flow generation over the next three years. Organic deleveraging will be slow and unevenly distributed even if oil prices recover to above US$60/bbl. Can the sector’s balance sheet support new growth strategies?
Table of contents
- Can balance sheets support growth?
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Tokyo Metals and Mining Briefing 2025
Ferrous market outlook, energy transition, and trade dynamics—key insights from Wood Mackenzie’s Metals and Mining Tokyo briefing.
$1,050
Insight
Delayed Energy Transition Oils: A Crude Awakening?
Wood Mackenzie’s Delayed Energy Transition scenario: what does it means for oil and refining
$1,350
Insight
US shale gas is back: new demand signals underpin upstream opportunity
Which companies and areas are best positioned to capitalize on a structural shift in US gas demand?
$1,350
