US indies batten down the hatches
The sector is largely relying on balance sheet resilience to outlast the downturn. But without an imminent oil price recovery the threat of bankruptcy looms large
Oil market pundits have been prophets of doom even since first unconstrained supply and then coronavirus-related global demand destruction cratered prices. The collapse of Whiting Petroleum into bankruptcy was seen as ominous, even before negative WTI prices at the end of April significantly increased gloominess. Company results for the first quarter are now gradually trickling in, showcasing the extent of the financial damage and preparing investors for the remainder of a gruelling operating year. Almost uniformly, firms have taken similar measures to protect their balance sheets. Hedging strategies are delaying heavy financial losses and producers have cut capex budgets to the minimum. Pr
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
