Financial Review: Second-Quarter 2018
Release date: September 18, 2018
Next release date: December 2018
Key findings
- Brent crude oil prices were 48% higher in second-quarter 2018 than in second-quarter 2017 and averaged $75 per barrel, the highest since fourth-quarter 2014
- Liquids production increased 2.3% in second-quarter 2018 from second-quarter 2017, and natural gas production increased 1.8% during the same period
- Energy companies’ free cash flow—the difference between cash from operations and capital expenditure—was $119 billion for the four quarters ending June 30, 2018, the largest four-quarter sum during 2013–18
- Companies reduced debt for seven consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014
