EY recently released its 2016 US Oil and Gas Reserves Study, the full text of which can be found here.

The 32-page study provides in its overview that it is "a compilation and analysis of certain oil and gas reserve disclosure information as reported by publicly traded companies in their annual reports filed with the Securities and Exchange Commission (SEC)."

The study "presents the US exploration and production results for the five year period from 2011 to 2015 for the largest 50 companies based on 2015 end-of-year oil and gas reserve estimates."

  • What is the main conclusion from this important analysis? You may have guessed it – the results show that the piggy banks are running a little low as a result of the downturn in oil prices.

Supply that exceeded demand contributed to low price environment that Oil & Gas 360 reports "made its mark on US exploration and production companies during 2015 with significant declines in revenues, capital expenditures and reserves."

So what are the top 5 highlights from the 2016 US Oil and Gas Reserves Study?

  1. Capital expenditures 41% lower in 2015 than in 2014 (totaling $117.5 billion in 2015)
  2. Oil production was 10% higher in 2015 than 2014 (2.4 billion barrels in 2015)
  3. End-of-year oil reserves were 12% lower than in 2014 at 24.1 billion barrels
  4. In the "Revenues and Results of Operations" category, revenues were down significantly from 2014 to 2015 (totaling $129.8 billion in 2015) and net losses of $112 billion were recognized
  5. End-of-year gas reserves were 21% lower than in 2014.

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