Major energy companies have been increasing their debt loads and selling assets to boost operating cash flow that has “flattened in line with flat crude oil prices,” the EIA reported in early August. Based on March 2014 figures, the agency spotted a $110 billion gap between cash flow needs and operating revenues for 127 global oil and gas companies. “To meet spending with relatively flat growth in cash from operations, companies increased their borrowing,” EIA reported. “When comparing the major sources of cash for the first quarter only, the net increase in debt has made up at least 20% of cash since 2012.”
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