California Resources’ Debt and Production: Chart in Focus
For 2Q16, California Resources (MRO) reported total debt of ~$466 per boe (barrel of oil equivalent) of production.
Sept. 20 2016, Updated 11:04 a.m. ET
California Resources’ debt normalized to quarterly production
For 2Q16, California Resources (MRO) reported total debt of ~$466 per boe (barrel of oil equivalent) of production, ~5% higher than 2Q15.
As the chart above shows, California Resources’ total debt normalized to quarterly production has been rising since 1Q16, mainly due to falling production. Although California Resources is actively working to reduce its debt load, in 2Q16, California Resources reported its highest total debt of ~$466 per boe of production since it started trading on the NYSE (New York Stock Exchange) in 4Q14.