Much has changed in US E&P bankruptcy terms since our initial note in mid-April 2016. Total US E&P debt impacted by bankruptcy has more than trebled to US$52 billion and output from companies in Chapter 11 has increased to 1 million boe/d (from US$16 billion and 250,000 boe/d two months ago). The bulk of the carnage could be behind us if oil prices stabilise at US$50/bbl or higher. There will be more filings in 2016, but most of those (particularly those of scale) are already in process. Ironically, companies which escape bankruptcy may actually face the greatest challenge – de-leveraging and growing the hard way. It could take years to right-size some balance sheets.
This report includes 2 file(s)
Surviving the cycle E&P Financial Health and the impact of Bankruptcies June 2016.pdf PDF - 1.12 MB
WM Financial Health Index.xls XLS - 463.00 KB
This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.
This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.
Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.
Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
Having Wood Mac analysis is table-stakes. Others are nice to have.
Analyst Metal Mining Producer
Wood Mac has the highest quality data and is demanded by our staff.
Portfolio Manager Integrated Oil Company
Others can provide data but we value the quality of the Wood Mac analysis above other sources.
As the trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, we empower clients to make better strategic decisions with objective analysis and advice. Find out more...
Insight | Jun 2016
Surviving the cycle: E&P financial health and the impact of bankruptcies – Q1 2016 update
Have questions? Just let us know how to contact you and we will respond to you as soon as possible.