Bloomberg
Many of Houston?s public energy companies spent more in the first quarter this year than last, but overall investment growth slowed compared to previous years.
Many of Houston?s public energy companies spent more in the first quarter this year than last, but overall investment growth slowed compared to previous years.
Industry observers say flat commodity prices have slowed growth in cash flows and, in turn, investment levels for many of Houston?s exploration and production companies ? some of the city?s biggest companies.
A slowdown in investment growth isn?t terrible news for the local economy, though. It could impact the region?s consumer spending, salary and job growth, but capital project spending comes in cycles.
It?s normal to see investments grow fast in one year and then take a breather in another, said Marcial Nava, an economist at BBVA Compass in Houston.
?It might slow down, but there are no signs of a downward trend,? he said. ?Oil prices are not going up now, but they seem to be pretty stable. It?s hard for me to think about oil prices following a downward trend for a long period of time while all these emerging economies continue (to demand) a lot of energy. That?ll keep prices from falling significantly, though we might see short-term cycles.?
Scroll down and take a deeper look at the net cash Houston?s public companies used in investing in the first quarters of 2013, 2012, 2011 and 2010. Or read the full story from our print edition this week.
Collin Eaton covers banking, finance and securities for the Houston Business Journal. For his breaking stories and industry insights, follow him on Twitter.
Source: http://feeds.bizjournals.com/~r/bizj_houston/~3/AJEgZv23ql4/houston-public-energy-company.html
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