Top E&Ps Report Worst Capex, Revenue Performance in 2020, Study Shows

The top 50 U.S. E&Ps saw their capex drop 60% and revenue down 33%, while impairment charges hit $66.6 billion, EY’s latest study showed.

Top E&Ps Report Worst Capex, Revenue Performance in 2020

The industry’s 50 largest publicly traded E&Ps posted their lowest combined revenue since 2016 at $110.8 billion. (Source: Shutterstock.com)

Last year, the industry’s 50 largest publicly traded E&Ps posted their lowest combined revenue since 2016 at $110.8 billion, according to EY’s U.S. oil and gas reserves, production and ESG benchmarking study.

Additionally, the E&Ps reported a total capex of $60.3 billion in 2020, representing a 60% decrease from 2019. It was the lowest for the five-year study period compared to increases of 17%, 21% and 27% in 2019, 2018 and 2017, respectively.

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access

Mary Holcomb

Mary Holcomb is an Associate Editor for HartEnergy.com's Digital News Group. She contributes to the company’s technology-based content such as subsea, seismic, digital oilfield, etc.