Moody’s: Positive Outlook For Global Independent E&P Firms 05/23/17 •lweb.es/f2845 •bit.ly/2s2mwdG
The outlook for global independent exploration and production firms remains positive, according to Moody’s. Increased oil and natural gas production, higher commodity prices, and moderate cost increases will help independent business’ earnings grow at a healthy pace over the next 12-18 months. The global E&P sector EBITDA – Earnings Before Interest, Taxation, Depreciation and Amortization – is expected to grow by 20-30% in 2017, following declines of about 25% in 2016 and a roughly 45% drop in 2015. The sector’s oil and natural gas production will rise about 5%, and mergers and acquisitions will be robust.