US shale industry braces for wave of bankruptcies

FINANCIAL TIMES đź”’| The biggest independent shale oil groups in the US reported a record combined loss of $26bn in the first quarter as the sector braces itself for a wave of bankruptcies over the next two years.


The collapse in crude demand brought about by the coronavirus pandemic forced more than $38bn in write-offs among top producers, according to analysis by Rystad Energy, sending net losses tumbling well below an average of $2.9bn in the past six years.


To read the full article, click here (subscription required).



  • LinkedIn
  • Twitter

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