Insight
US Independents: stay flat cash flow framework
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The strategic imperative for US E&Ps now is to deliver cash to shareholders through the cycle. Yet only a handful of independents entered the downturn with clean balance sheets and portfolios capable of near-term cash return. Those few have a huge strategic advantage. Most of the US E&Ps need to de-lever, and many of them will be in debt reduction mode for years – unless WTI prices climb towards US$60/bbl. Prioritizing de-levering means a delay in cash return to shareholders or investing for modest growth.
Table of contents
- Deliver, de-lever or distress?
Tables and charts
This report includes the following images and tables:
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US E&P Financial Health Index (FHI) & corporate breakevens
What's included
This report contains:
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