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US Independents Q3 2022 earnings recap

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11 November 2022

US Independents Q3 2022 earnings recap

Report summary

US independents have finished reporting Q3 results this week, including key large caps ConocoPhillips, Occidental, EOG, Pioneer and Devon. We take a look at the aggregated data for these companies, adding some qualitative thoughts on trends in the quarter. After a record-breaking Q2, earnings and cash flow from the group took a half a step backwards in Q3, but were still robust. Return of capital rose meaningfully though, as the group continued to moderate debt reduction and divert a higher percentage of free cash flow (FCF) to buybacks and dividends.

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    US Independents Q3 2022 earnings recap

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