In a recent report, Fitch Ratings - a globally recognized credit rating and research agency - has projected varying netbacks for Latin American Oil & Gas based on location. The information, released out of their San Jose/New York offices on the 14th of December, 2023, anticipates an average before-tax, suggesting that geography will play a critical role in dictating the profitability of oil & gas production in the Latin American region.
1. Fitch Ratings has published a report estimating differing netbacks for Latin American Oil & Gas based on location.
2. This information was published on the 14th December, 2023 from their San Jose/New York offices.
3. The report suggests that the region's geography will be pivotal in determining the profitability of oil and gas production in Latin America.
4. Fitch Ratings anticipates the average before-tax oil and gas netbacks will significantly vary by location, taking into account factors like production costs, barrel rates, transport costs, and regional financial conditions.
5. Their forecast reflects the complex interplay of internal operations and external market dynamics in the oil and gas industry.
According to the Fitch Ratings report dated December 14, 2023, the projected oil & gas netbacks for Latin America region vary by location with the highest expected to be $20/bbl in Venezuela and lowest being $10/bbl in Ecuador.
Fitch Ratings forecasts that the average before-tax oil and gas netbacks (the revenue derived after all production and transportation costs) in Latin America will vary significantly depending on location. Backed by extensive research, these predictions account for various contributing factors including production costs, barrel rates, transportation expenditures, and regional financial conditions. They also reflect the intricate nature of the oil and gas industry, which is influenced by both internal operations and external market dynamics.