Next Release Date: December 2009
Major Findings
Net income declined to $125 billion, the third-highest ever in the FRS survey.
Return on stockholders’ equity was 23.1 percent, the third-highest ever behind 2005's 28.2 percent and 2006's 27.1 percent.
Cash flow from operations decreased 4 percent (in constant 2007 dollars) from 2006 to $191 billion in 2007.
Capital expenditures decreased 18 percent from 2006 to $165 billion in 2007.
FRS companies increased the amount of cash used to repurchase stock and lower debt levels. Their cash and cash equivalents positions increased relative to 2006.
Expenditures for exploration, development, and production decreased $46 billion to $161 billion in 2007.
FRS companies' worldwide reserve replacement rate for natural gas was 126 percent in 2007, which has equaled or exceeded 100 percent every year since 1992 except 2006. The oil reserve replacement ratio increased to 78 percent in 2007 and was the fifth time in the past 6 that it was less than 100 percent.
For domestic production and reserves, the FRS companies' reserve replacement rate was 105 percent for oil and 185 percent for natural gas. The corresponding rates for all producers were 140 percent for oil and 237 percent for natural gas.
Worldwide finding costs for FRS companies increased 5 percent in the 2005-2007 period to $16.61 per barrel of oil equivalent.
The U.S. refined product net margin decreased to $4.78 per barrel, $0.20 per barrel lower than the all-time peak of 2006.
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