Oil prices drop 20%, expenditures rise 26%
EDITOR’S NOTE: As publicly traded oil and gas companies begin reporting their second quarter financials, the Energy Information Administration released this week its financial analysis of first quarter 2023 of 40 exploration and production companies, which produced 31% (4 million barrels per day) of the oil in the U.S. It does not include the smaller, privately held companies. Below is EIA’s analysis.