US Independents: stay flat cash flow framework

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22 October 2020

US Independents: stay flat cash flow framework

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 1 images and tables including:

  • US E&P Financial Health Index (FHI) & corporate breakevens

What's included

This report contains:

  • Document

    US Independents - cash flow in a stay flat framework.pdf

    PDF 2.10 MB