Energy CapEx: Spending Money to Make Money
February 17, 2016
Back when the dinosaurs roamed the Earth in the late 1980s and 1990s, oil and gas companies started to use a term called EBITDAX instead of Net Income to describe the amount of cash that was generated from ongoing operations. Net Income includes non-cash expenses like depletion, depreciation, amortization, and interest expense. EBITDAX? Don’t you mean EBITDA? Actually, we mean
