1991 NORTH SEA CASH FLOW PINCHED

Many U.K. North Sea companies booked weak or even negative cash flows in 1991. That was a result of higher capital investment, costs overruns, pressure on operating budgets, and lower than expected oil production. Making the situation worse were a buyer's market for oil and gas assets and a weak stock market rating for U.K. quoted companies, said County Natwest Woodmac, Edinburgh, Scotland, in a review of 1991.

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