US energy companies boost production, cash flow in Q2 ’24

Energy companies in the United States reported an increase in petroleum liquids and natural gas production for the second quarter (Q2) of 2024 compared to the same period in 2023, according to the US Energy Information Administration (EIA) in its Financial Review. Cash from operations rose by 2 per cent in real terms, attributed to higher prices.

Despite this increase in cash flow, companies reduced their expenditures on investing and financing activities by 7 per cent in real terms in the second quarter of 2024 compared to the previous year.

Distributions to shareholders through dividends and share repurchases continued to exceed pre-pandemic levels as a share of cash from operations. The next financial review is scheduled for December 2024.

Attribution: EIA

Subediting: M. S. Salama