upstream adjustment to a new oil price environment, by sadad al husseini
TRANSCRIPT
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21/10/2016
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Upstream Adjustment to a New Oil Price Environment
Panel Deborah Byers – US Oil & Gas Leader and Managing Partner - Houston, Ernst & Young
John B. Hess – Chief Executive Officer, Hess Corporation
Ali Moshiri – President, Chevron Africa and Latin America Exploration & Production Company
Moderator Sadad Al Husseini – President, Husseini Energy Company
Barclays Survey: 200 Oil & Gas Companies
• N. America spending down 37%
• International spending down 17%
• Offshore spending down 34%
• L. America spending down 33%
EIA Survey: 112 Oil & Gas Companies
• Cash flow down 44%
• Capex down 37%
• Debt servicing 60% of cash flow
• Long term debt to equity > 52%
![Page 2: Upstream Adjustment to a New Oil Price Environment, by Sadad Al Husseini](https://reader031.vdocuments.mx/reader031/viewer/2022030216/5887eb051a28ab7d5c8b4fdb/html5/thumbnails/2.jpg)
21/10/2016
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92.0
94.0
96.0
98.0
100.0
Total
Mbd
EIA Sept. 2016 Data
Demand: + 1.5 Mbd/yr.
Supply: + 0.7 Mbd/yr
Can the upstream industry deliver in a stagnant oil market?