Speed of response key to post-Covid recovery
The shale patch may face a prolonged road back to health, agree the PE Live 1 panellists
Saudi Arabia’s 2014 attempt to drive US shale out of the market was an abject failure, ultimately leading to it having to make common ground with Russia. But the robustness US producers showed then may not be repeated in 2020. “The big difference is that, last time around, there was ample capital to finance companies going through restructuring,” says EY’s Brogan. “So, while not all of the companies came through intact, most of the assets did. “This time around, shale had already become an unpopular investment, at least from private sources. On both the debt and equity side, the capital to keep shale going is not there to anything like the extent it was the last time,” he continues. Brogan d
Also in this section
23 October 2024
Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain
22 October 2024
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026
21 October 2024
Companies operating offshore assets in the region are unlikely to halt development plans for now, even as hostilities intensify
21 October 2024
For the tanker market, recent escalation in the Mideast conflict has largely been offset by soft fundamentals