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Chesapeake Energy
Shell
Energy Markets
Institutional Investors
Natural Gas
Oil Industry
Appalachia
Despite Capex Cuts, Appalachian Frackers Report Negative Free Cash Flow in Second Quarter 2020
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Key Findings
Even after cutting capital expenditures to their lowest quarterly point in more than six years, nine Appalachian shale-focused gas producers continued to hemorrhage money, reporting more $134 million negative free cash flows in the second quarter of 2020. Together, they have spilled $1.1 billion in red ink over the past twelve months.
Executive Summary
Key Findings:
- Nine fracking-focused gas companies in Appalachia reported $134 million negative free cash flow in Q2 2020.
- Over the past 12 months, these companies generated $1.1 billion negative free cash flow.
- In aggregate, capital spending was $1.9 billion in the quarter, a 35% year on-year drop.
- Capital investments during the quarter were the lowest in at least six years.
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