Public exploration and production (E&P) companies are on track to shatter previous record profits in 2022, according to research revealed by Rystad Energy.
High oil and gas prices and surging demand will drive financial success, with total free cash flow (FCF) – which shows a company’s cash from operations after accounting for outflows and asset maintenance – expected to balloon to $834 billion.
“The current financial health of public upstream operators is at an all-time high. Still, the good times are set to get even better this year, thanks to a perfect storm of factors pushing profits and cash flow to another record high in 2022,” said Espen Erlingsen, Rystad Energy’s head of upstream research.
