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.

Nicholas Chapman - Author
By

Sep. 20 2016, Updated 11:04 a.m. ET

uploads///CRC Q Debt per boe

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.

Article continues below advertisement
Article continues below advertisement

Other upstream players

Upstream companies Denbury Resources (DNR), Devon Energy (DVN) and Diamondback Energy (FANG) have total debt normalized to quarterly production of ~$525 per boe, ~$217 per boe, and ~$139 per boe, respectively.

Advertisement

Latest Diamondback Energy Inc News and Updates

    Opt-out of personalized ads

    © Copyright 2024 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.