The $588 million loss in 4Q15, worst quarterly performance since 2002, isnt the whole story. Our capex for all of 2015, $34 billion, hugely exceeded our cash flow from operations ($19 billion). That means our debt increased by almost a factor of two from $14.6 to $27.3 billion. And we are paying out a couple billion more to meet the dividend soon. Borrowing from Peter to pay Paul is uber risky to say the least. This trend is only expected to worsen, even with mass layoffs, given the current price environment. Gorgon production isnt going to fix this. It will make us the biggest loss-leader in the LNG business though.
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Listen to -mcu kids. Those pesky profit & loss statements and balance sheets can be a real distraction. They onlt tell one part of the story: the truth.
Wheastone projected to increase in cost by additional 4 billion. CVX took a 1.1 billion writedown last quarter. Sounds like more to come.
The emperor has no clothes.
Relax kids, this company has been around for a while, I am certain they have folks that know a little more than the posters/trolls on this forum.
Dividend will stay. Good to hear.
$2 billion dividend cash per quarter! $8billion per year.