EARNINGS CALLS | April 02, 2019

Oil and Gas Producers (4Q 2018)

“Organic” and “local” do not belong to the list of words commonly used in E&P earnings calls. Yet, both terms came up this quarter to describe changing attitudes towards supply and demand, respectively. Producers “living within their means” are lowering leveraged CAPEX , focusing on free cash flow, share buybacks, reducing costs and finding capital efficiencies in order to grow organically . And in certain cases – such as the Marcellus – they are also focusing on local demand growth to find .....