Low oil and gas prices continued beating down the revenues of Canadian oil and gas producers in 2016, with this year’s top 100 companies reporting a combined revenue decline of $6.4 billion, or 10 per cent, from 2015. Cash flows declined by $7.9 billion, or 23 per cent.
Yet, despite the declines, the top 100 managed to cut their losses substantially compared to 2015. The combined group reported losses of $31.8 billion in 2015. In 2016, that came in at only $3.7 billion.
Download Oilweek/CanOil’s Top 100 financial tables for the complete data review.
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