Shale industry will be rocked by $300 billion in losses and a wave of bankruptcies, Deloitte says

CNBC | The U.S. shale industry is about to enter a period of “great compression” as low oil prices hammer the sector, according to a Deloitte study released Monday.

The firm believes that exploration and production companies could  write down the value of their assets by as much as $300 billion as they struggle to breakeven in a lower-for-longer oil price environment. Significant impairments are expected in the second quarter. Based on this, the firm envisions a wave of bankruptcies followed by mass consolidation.

To read the full article, click here.

  • LinkedIn
  • Twitter

© 2020 Energen. This website represents a proof of concept of the future platform