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US Independents Q2 2022 earnings recap
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Report summary
US independents reported Q2 results this week, including key large caps ConocoPhillips, Occidental, EOG, Pioneer and Devon. We take a look at the aggregated data for these plus the seven that reported last week, adding some qualitative thoughts on trends in the quarter. It was a quarter of huge, record-breaking earnings and cash flow for most. But there were some hiccups, and the stocks faced some headwinds over the last two weeks due to falling commodity prices. Hedging was much less of a dark cloud in Q2, but inflation and service constraints certainly remain.
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