據(jù)油價(jià)網(wǎng)5月5日報(bào)道，美國能源信息管理署（EIA）周四表示，美國公共石油生產(chǎn)商的運(yùn)營現(xiàn)金總額在2021年第四季度達(dá)到275億美元，是自2014年第三季度以來最大的季度金額。

去年下半年原油價(jià)格的上漲，幫助EIA分析的42家上市石油公司大幅增加了運(yùn)營現(xiàn)金和資本支出。根據(jù)EIA對42家公共石油生產(chǎn)商公布的財(cái)務(wù)報(bào)告的分析，2021年第四季度，這些公司的資本支出同比增長60%，達(dá)到150億美元。

盡管第四季度資本支出增加，但原油產(chǎn)量仍比疫情開始前的創(chuàng)紀(jì)錄水平低10%。

美國西得克薩斯中質(zhì)油(WTI)在2021年第四季度的平均價(jià)格為每桶77美元，比2020年同期上漲了82%。然而，EIA表示，產(chǎn)量并沒有隨著油價(jià)的大幅上漲而增長，并指出鉆機(jī)和鉆井人員的短缺是鉆井活動(dòng)未能實(shí)現(xiàn)大幅增加的兩個(gè)制約因素。

此外，美國生產(chǎn)商專注于完成已鉆未完井(DUCs)，這導(dǎo)致自2014年5月以來，美國產(chǎn)油區(qū)在2022年3月的DUCs數(shù)量最少。

新井的鉆探需要更多的資本支出，需要雇傭鉆井人員和服務(wù)供應(yīng)商，目前頁巖領(lǐng)域的瓶頸導(dǎo)致此類人員供應(yīng)短缺。因此，美國致密油產(chǎn)量的增長速度不像之前的上升周期那樣快，而且肯定不像政府希望降低美國8年來最高的汽油價(jià)格那樣快。

所有預(yù)測都表明，美國今年的石油產(chǎn)量將高于2021年，但增長速度可能低于幾個(gè)月前的預(yù)期。行業(yè)高管表示，最大頁巖油公司的資本支出紀(jì)律、供應(yīng)鏈瓶頸和勞動(dòng)力短缺將限制美國石油產(chǎn)量的增長。

季廷偉 摘譯自 油價(jià)網(wǎng)

原文如下：

U.S. Oil Firms Generate Highest Cash Flows Since 2014

U.S. public oil producers saw their combined cash from operations hit $27.5 billion in the fourth quarter of 2021, the largest quarterly figure since the third quarter of 2014, the Energy Information Administration (EIA) said on Thursday.

The rising crude oil prices in the latter part of last year helped the 42 listed oil firms that the EIA included in its analysis to significantly increase cash from operations, as well as capital expenditures. Capex at the companies jumped by 60% quarter over quarter to $15 billion in the fourth quarter of 2021, according to EIA’s analysis of the published financial reports of 42 public oil producers.

Despite the higher capex in Q4, crude oil production was still trending 10% below the record levels seen just before the start of the pandemic.

WTI Crude prices averaged $77 per barrel in the fourth quarter of 2021, up by 82% compared with the same quarter of 2020. Production, however, has not grown in response to the much higher oil prices, the EIA said, noting that a shortage of rigs and crews to bring wells online were two of the constraints to a significant increase in drilling activity.

In addition, U.S. producers focused on completing drilled-but-uncompleted wells (DUCs), which resulted in the fewest number of DUCs in the U.S. oil-producing regions in March 2022 since May 2014.

The drilling of new wells needs more capital expenditure and hiring rig crews and services providers that are currently in short supply amid bottlenecks in the shale patch. As a result, U.S. tight oil production is not rising as fast as in previous upcycles, and surely not as quick as the Biden Administration wants as it looks to lower the highest gasoline prices in America in eight years.

All forecasts point to U.S. oil production rising this year compared to 2021, but growth will likely happen at a slower pace than expected a few months ago. Capex discipline from the largest shale firms, supply chain bottlenecks, and labor shortages will cap U.S. oil production growth, industry executives say.