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CM - More debt, less equity & Q3 earnings will soon be here - October 2019
Q3 proved to be significant, showing a four-year high in energy industry debt issuances, according to Enverus’ Capitalize platform. Energy companies borrowed over $40 billion through bonds, most notably Occidental Petroleum and Exxon Mobil Corp. at $13 billion and $7 billion, respectively. But the industry offered almost no equity through the public markets, indicating that, at least for now, this avenue is essentially closed to oil and gas (PG.1). Upstream companies that have raised......
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