Quarterly capital spending: Oil and gas industries, fourth quarter 2022
Released: 2023-03-01
$8,958 million
Fourth quarter 2022
-5.4% 
(quarterly change)
Capital expenditures in the oil and gas extraction industries, including expenditures on exploration and evaluation, totalled $9.0 billion in the fourth quarter. This is a 5.4% decline from the third quarter.
However, for the year, expenditures totalled 35.1 billion in 2022, a 41.3% increase compared with 2021.
Note to readers
Capital expenditures are the gross expenditures on fixed assets, including exploration and evaluation, for use in the operations of an organization or for lease or rent to others.
Revised capital expenditure data for the oil and gas extraction industries will be published on June 1, 2023.
Data in this release are seasonally adjusted and are expressed in current dollars, unless otherwise specified.
For information on seasonal adjustment, see Seasonally adjusted data – Frequently asked questions.
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Contact information
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