Producers Cut Spending To Match Cash Flow In First Quarter

摘要

Producers lived up to their promise to keep spending in line with cash flow in the first three months of 2009.A total of .127 producers reported a combined cash flow of $10.14 billion for the first quarter, continuing the plunge that began in the fourth quarter of 2008. Cash flow peaked in the third quarter of 2008 at $20.6 billion.The $10.14 billion for the first three months of 2009 was the lowest quarterly cash flow figure since the first quarter of 2005.