Top 10 producers ranked by Q3 capex – new data

Source: Evaluate Energy

Among producers focused solely on a North American asset base, Ovintiv Inc. recorded the highest capital spend in Q3 2020 at US$351 million, based on data released today by Evaluate Energy.

A list of the top 10 companies ranked by value of Q3 capital spending, along with other relevant cash flow metrics, is available for free download here.

“With annual results right around the corner, it’ll be fascinating to see which of these companies and the rest of the North American producers finished 2020 with an increase in development spending compared to these Q3 figures,” said Mark Young, senior Oil & Gas analyst at Evaluate Energy. “Early guidance, especially in Canada, shows widespread upticks in spending are to be expected as things stand.”

The new Evaluate Energy data shows that:

  • Pandemic related budget cuts meant that most of the ranked companies cut spending year-over-year in Q3
  • Tourmaline Oil, the only Canadian company in the list, was also the only company to record an increase in spending in Q3 compared to Q3 2019.
  • Southwestern Energy was the only company of the 10 to record negative free cash flow (capital spending outweighed operating cash flow.)

The data focuses on publicly listed producers that only produce in North America. The data includes information on capital spending, operating cash flow, free cash flow and production. Download the Top 10 list here:

Any spending on asset acquisitions is excluded, as is any cash inflow from selling assets.

For more on these companies’ capital spending plans, visit the Daily Oil Bulletin’s guidance data here for 2020 and 2021 estimates. This dataset is also provided by Evaluate Energy.

Evaluate Energy is headquartered in London and specializes in global oil, gas and renewable energy intelligence. It is a sister brand of the Daily Oil Bulletin.

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