据油田技术4月23日消息：美国能源信息署(EIA)的数据显示，根据所有已公布的公司新闻稿，到2021年3月，美国独立勘探和生产上市公司的债务和股票发行总额达到44亿美元，为2020年8月以来的最高水平。
EIA通过能源评估公司(evaluate Energy)分析并汇编了这些数据，该数据服务跟踪所有上市石油公司的财务信息。自2020年9月以来，除一个月外，其他所有月份已发行债务和股票数量均较上月增加。
美国勘探与生产公司发行更多债务和股权的原因之一是为了利用不断上涨的原油价格。自2020年达到多年低点以来，原油价格一直在稳步上升。从2020年3月到2020年5月，布伦特原油价格平均低于40美元/桶，此后一直在上涨，到2021年3月平均超过65美元/桶。自原油价格开始上涨以来，美国原油生产商一直在筹集债务和股权以对债务进行再融资，恢复钻井活动或购买土地。
除了较高的原油价格外，低利率也降低了债务成本，并可能推动近期债券和股票发行的增长。自2020年3月以来，美联储系统的联邦公开市场委员会一直影响整个市场利率的联邦基金利率维持在0.00％至0.25％的水平。
美国的公司债券收益率也一直较低，导致公司发行的新债券利率降低，并降低了发债成本。例如，代表整个市场投资级公司平均债券收益率的穆迪经验丰富的AAA公司债券收益率在2月份平均为2.70%，低于2011-20年3.78%的平均收益率。此外，评级低于投资级别的能源行业公司的债券收益率处于多年低点。
由于美国生产商增加了债务和股本(以及其他因素)，EIA预测，美国原油产量将从21年第一季度的1070万桶/天增加到22年第4季度的1220万桶/天。
冯娟 摘译自 油田技术
原文如下：
EIA: US exploration and production companies issuing new debt and equity
based on all announced corporate press releases, the amount of debt and equity issued among publicly traded independent US exploration and production (E&P) companies totalled US$4.4 billion in March 2021, the most since August 2020, according to the US Energy Information Administration (EIA).
EIA analysed and compiled the amounts via evaluate Energy, a data service that tracks financial information for all publicly traded oil companies. Since September 2020, the amount of issued debt and equity has increased from the previous month in all but one month.
EIA based its analysis primarily on the published financial reports of publicly traded companies, so the conclusions do not necessarily represent the sector as a whole because the analysis does not include private companies that do not publish financial reports.
One reason US E&P companies are issuing more debt and equity is to take advantage of increasing crude oil prices. Crude oil prices have been steadily increasing since reaching multiyear lows in 2020. Brent crude oil prices averaged less than US$40/bbl from March 2020 to May 2020 and have since increased, averaging more than US$65/bbl in March 2021. Since crude oil prices began increasing, US crude oil producers have been raising debt and equity to refinance debts, resume drilling activities or purchase acreage.
In addition to higher crude oil prices, low interest rates have lowered the cost of debt and have likely contributed to the recent growth in issuing debt and equity. The Federal Reserve System’s Federal Open Market Committee has held the federal funds rate, which affects interest rates across the market, at a target of 0.00% to 0.25% since March 2020.
Corporate bond yields have also been low in the US, contributing to lower interest rates on new bonds that companies issue and reducing the cost of issuing debt. For example, the Moody’s seasoned AAA corporate bond yield, which represents average bond yields for investment grade companies across the market, averaged 2.70% in February, which is lower than the 2011–20 average of 3.78%. In addition, corporate bond yields specific to energy sector companies with a rating lower than investment grade are at multiyear lows.
Because US producers have increased access to debt and equity (among other factors), EIA forecast that US crude oil production will increase from 10.7 million bpd in 1Q21 to 12.2 million bpd in 4Q22.
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