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10 Mar, 2021 Author Dyna Mariel Bade
U.S. oil and gas companies covered by S&P Global Market Intelligence raised $7.76 billion of capital in February, a decrease from the approximately $13.65 billion of capital recorded in January. Debt offerings contributed the most with $7.22 billion, while common stock offerings and private placements brought in total capital of $537.8 million.
As of February, only oil and gas exploration and production companies recorded an increase from the year-ago period, after raising $9.70 billion. Oil and gas storage and transportation companies pulled in $9.77 billion, a decline from $16.60 billion a year earlier. Oil and gas refining and marketing companies raked in $1.94 billion, a drop from $2.00 billion in the prior-year period.
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