Financial Review: Third-Quarter 2019
Release date: December 31, 2019
Next release date: May 2020
Key findings
- Brent crude oil daily average prices were 18.2% lower in third-quarter 2019 than in third-quarter 2018 and averaged $62 per barrel.
- Dividends plus net share repurchases equaled 24% of cash from operations, substantially lower than the six-year high of 33% set in first-quarter 2019.
- Cash from operations in third-quarter 2019 was $128 billion, 12% lower than in third-quarter 2018.
- Capital expenditures were $75 billion in third-quarter 2019, 9% lower than in third-quarter 2018.
- The percentage of companies reporting positive upstream earnings declined from 88% in second-quarter 2019 to 78% in third-quarter 2019; the percentage of companies reporting positive cash flow increased marginally from 48% to 52%.
