Key findings

• Brent crude oil daily average prices were 33% higher in 3Q22 than in 3Q21 and averaged $98 per barrel. Henry Hub daily average prices were 84% higher over the same period and averaged $7.95 per million British thermal units.
• For the 160 energy companies in our study, combined petroleum liquids production decreased 0.5%, and natural gas production increased 5.2% year over year.
• Cash from operations in 3Q22 totaled $215 billion, the highest in the 2017–22 period.
• Distributions to shareholders via dividends and share repurchases reached $60 billion as a four-quarter average ending in 3Q22, the highest in the 2017–22 period.
• The long-term debt-to-equity ratio decreased to 38%, the lowest in the 2017–22 period.