Insight
Surviving the cycle: E&P financial health and the impact of bankruptcies
Report summary
Oil and gas price weakness has resulted in 45 E&Ps filing for Chapter 11 in the US since early 2015. For many of these companies, the writing was on the wall – assets and /or business models were structurally flawed or the timing and magnitude of spend catastrophic. More E&Ps will go bankrupt in 2016, including some larger players. But we do not expect the phenomenon to be widespread. Nor do we anticipate a material impact on US production. In this report we investigate the impact of bankruptcies so far; assess the financial health of the US E&P sector and provide a primer on the Chapter 11 process.
Table of contents
-
Key messages
-
Bankruptcies to date and corporate financial health analysis
- Analysis of North American E&P bankruptcies so far
- Charts and graphs introducing our Wood Mackenzie Financial Health Index
-
The Chapter 11 process
- A roadmap of financial distress in the US
- Examination of the advantages of filing for Chapter 11 versus an out-of-court workout
- Overview of the legal process during a traditional Chapter 11 case
- Snapshot of the priority of claims post-emergence
-
Swift Energy - a case study on the bankruptcy process
- In depth analysis of Swift's position both before and after filing for Chapter 11 protection
- Glossary of Terms
-
Bankruptcies to date and corporate financial health analysis
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
29 June 2016
Surviving the cycle: E&P financial health and the impact of bankruptcies – Q1 2016 update
Insight
Surviving the cycle: E&P financial health and the impact of bankruptcies – Q1 2016 update
Corporate financial health analysis and bankruptcy primer
$1,35010 September 2021
US Independent E&Ps are delivering on deleveraging promises
Insight
US Independent E&Ps are delivering on deleveraging promises
Debt reduction across the US Independent landscape accelerated in Q2 2021, but continued deleveraging remains a top priority for US E&Ps.
$1,35006 December 2022
Rainy River gold mine project
Asset Report
Rainy River gold mine project
A detailed analysis of the Rainy River gold mine project.
$2,250
