Insight
Q4 2018 results preview
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
A sharp retreat in oil prices brought oil and gas companies back down to earth in Q4. The resulting equity sell-off will have punctured any bullish sentiment built up during a decent third quarter. Even so, Brent still averaged well above companies’ cash flow breakevens and we expect another quarter of production growth. But lower prices will reinforce the commitment to capital discipline. We take a look at what this means for the Majors and US Independents.
Table of contents
- Upstream will more than offset weaker downstream financials
- Growing production and proven reserves
- Lower prices will reinforce capital allocation priorities
- What to expect from the Majors
- US E&P guidance as important as ever
Tables and charts
This report includes the following images and tables:
-
Oil and gas prices and global refining margins2018 combined dividend and buyback yieldMarket premium / discount to WM base case NPV10 (%)
What's included
This report contains:
Other reports you may be interested in
Asset Report
Goongarrie - Cobalt project
A detailed analysis of the Goongarrie nickel project.
$2,250
Insight
US Independent Refiners: Q4 2025 results recap and analysis
Analysis on Q4 2025 earnings for Valero, Phillips 66, Marathon Petroleum, HF Sinclair and PBF Energy
$900
Insight
US upstream week in brief: Q4 2024 archive
The US week in brief highlights the need-to-know current events from US upstream. Stories are supplemented with proprietary Woodmac views.
$1,350
