據(jù)油田技術(shù)4月23日消息：美國能源信息署(EIA)的數(shù)據(jù)顯示，根據(jù)所有已公布的公司新聞稿，到2021年3月，美國獨(dú)立勘探和生產(chǎn)上市公司的債務(wù)和股票發(fā)行總額達(dá)到44億美元，為2020年8月以來的最高水平。

　　EIA通過能源評估公司(evaluate Energy)分析并匯編了這些數(shù)據(jù)，該數(shù)據(jù)服務(wù)跟蹤所有上市石油公司的財(cái)務(wù)信息。自2020年9月以來，除一個(gè)月外，其他所有月份已發(fā)行債務(wù)和股票數(shù)量均較上月增加。

　　美國勘探與生產(chǎn)公司發(fā)行更多債務(wù)和股權(quán)的原因之一是為了利用不斷上漲的原油價(jià)格。自2020年達(dá)到多年低點(diǎn)以來，原油價(jià)格一直在穩(wěn)步上升。從2020年3月到2020年5月，布倫特原油價(jià)格平均低于40美元/桶，此后一直在上漲，到2021年3月平均超過65美元/桶。自原油價(jià)格開始上漲以來，美國原油生產(chǎn)商一直在籌集債務(wù)和股權(quán)以對債務(wù)進(jìn)行再融資，恢復(fù)鉆井活動或購買土地。

　　除了較高的原油價(jià)格外，低利率也降低了債務(wù)成本，并可能推動近期債券和股票發(fā)行的增長。自2020年3月以來，美聯(lián)儲系統(tǒng)的聯(lián)邦公開市場委員會一直影響整個(gè)市場利率的聯(lián)邦基金利率維持在0.00％至0.25％的水平。

　　美國的公司債券收益率也一直較低，導(dǎo)致公司發(fā)行的新債券利率降低，并降低了發(fā)債成本。例如，代表整個(gè)市場投資級公司平均債券收益率的穆迪經(jīng)驗(yàn)豐富的AAA公司債券收益率在2月份平均為2.70%，低于2011-20年3.78%的平均收益率。此外，評級低于投資級別的能源行業(yè)公司的債券收益率處于多年低點(diǎn)。

　　由于美國生產(chǎn)商增加了債務(wù)和股本(以及其他因素)，EIA預(yù)測，美國原油產(chǎn)量將從21年第一季度的1070萬桶/天增加到22年第4季度的1220萬桶/天。

　　馮娟 摘譯自 油田技術(shù)

　　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do not necessarily represent the sector as a whole because the analysis does not include private companies that do not publish financial reports.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.