Short of capital? has been saved
Limited functionality available
A lower-for-longer oil price environment has taken a toll on the capital spending of exploration and production (E&P) companies. Actual and announced capex cuts have gone below the minimum required levels to offset depletion, let alone meet any expected growth. But, how much does the industry need to spend at a minimum to ensure its long-term sustainability? And, will companies have enough cash flows to fund even these reduced capex levels over the next five years? These are some of the questions and perspectives this report explores.