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Cost-cutting has reached limit: Westwood

GLOBAL oil and gas explorers and producers seem to have reached the limit of unit cost cutting according to a new report from Westwood Global Energy Group.

James Bowen
Westwood says Woodside was one of only two to see its net debt to earnings before interest, taxes, depreciation, depletion, amortisation and exploration expenses increase last year.

Westwood says Woodside was one of only two to see its net debt to earnings before interest, taxes, depreciation, depletion, amortisation and exploration expenses increase last year.

The report found that the weighted average unit cost base of the companies, which had fallen from US$39.4 per barrel of oil equivalent in 2014 to $32.6/boe in 2016, rose 2% $33.2/boe in 2017.   Nonetheless,...

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