Quarterly capital spending: Oil and gas industries, fourth quarter 2023
Released: 2024-03-01
$9,808 million
Fourth quarter 2023
-3.0% 
(quarterly change)
Capital expenditures in the oil and gas extraction industries decreased by 3.0% in the fourth quarter to $9.8 billion. For the year 2023, capital spending, including exploration and evaluation, totalled $40.0 billion, a 13.4% increase over 2022.
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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.
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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