Financial Review: Third-Quarter 2018
Release date: December 18, 2018
Next release date: May 2019
Key findings
- Brent crude oil prices were 45% higher in third-quarter 2018 than in third-quarter 2017 and averaged $76 per barrel, the highest since fourth-quarter 2014.
- Liquids production increased 2.7% in third-quarter 2018 from third-quarter 2017, and natural gas production increased 3.9% during the same period.
- Energy companies’ free cash flow—the difference between cash from operations and capital expenditure—was $149 billion for the four quarters ending September 30, 2018, the largest four-quarter sum during 2013–18.
- Companies reduced debt for eight consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014.
