Next Release Date: December 2008
Financial Information
Net income reached $131 billion, the highest ever in the FRS survey.
Return on stockholders’ equity was 27.0 percent, the second-highest ever (trailing only 2005's 28.2 percent).
Earnings in the oil and natural gas production segment increased by less than one percent (in constant 2006 dollars) in 2006 from 2005 as crude oil prices continued to rise but natural gas prices fell.
Refining/marketing net income reached a record high. Petroleum product prices increased by more than the increases in crude oil and operating costs.
Cash flow from operations increased 10 percent from 2005 to $194 billion in 2006; the highest level reported in the 21 years that the FRS survey has collected this information.
Capital expenditures increased 42 percent from 2005 to $195 billion in 2005. Merger and acquisition activity contributed a substantial portion of the increase.
FRS companies increased the amount of cash used to repurchase stock, lower debt levels, and make investments. Their cash and cash equivalents positions decreased by $7 billion in 2006, but were higher than any previous year in the survey except 2005.
Expenditures for exploration, development, and production increased $68 billion to $203 billion in 2006. Property acquisition expenditures accounted for 62 percent of the increase.
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Tables and Figures
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