2022 BDO Natural Resources CFO Outlook Survey

The energy industry is no stranger to disruption. Lessons learned from years past pulled companies from the rubble of the pandemic. The past year was largely marked by price and demand volatility, production and supply chain bottlenecks and cybersecurity threats. Now, energy companies are faced with a choice: reimagine business models for operational and financial stability or risk falling short of their projections for 2022.
The 2022 BDO Energy CFO Outlook Survey polled 100 energy CFOs to learn how they plan to emerge from a year of disruption and reimagine processes for a future of growth.

Dive into the survey findings to get a glimpse of the landscape energy is facing in 2022 — and what CFOs plan to do about it:



 While the past year presented a myriad challenges for the energy industry, CFOs have a diversified mix of strategies at their disposal to restore consumer and investor confidence, and boost operational resilience. But on the road ahead, securing sufficient working capital will be key to the success of either endeavor and the lifeline to organizations’ near- and long-term growth.  

National Leader of BDO’s Energy Practice, Global Leader of Oil and Gas




The 2022 BDO Energy CFO Outlook Survey polled 100 energy CFOs with revenues ranging from $250 million to over $3 billion. The survey was conducted by Rabin Research Company, an independent marketing research firm, in October 2021 using Op4G’s panel of executives.



23% $251M-$500M
14% $501M-$750M
18% $751M-$999M
36% $1B-$2B
8% $2B-$3B
1% $3B+


50% Public
20% Private (PE backed)
18% Private (independent)
12% Private (VC backed)


66% U.S. only
27% Canada
15% Latin/South America
12% Asia-Pacific
10% Europe
4% Africa


10% Power generation
(Nonrenewable / traditional)
20% Power transmission or distribution
20% Power generation
(Renewables - solar, wind, nuclear)
8% Oil field services
14% Downstream oil & gas
14% Midstream oil & gas
14% Upstream oil & gas