The U.S. Energy Information Administration has used Evaluate Energy data to show how 40 U.S. oil and natural gas producers collectively wrote down $48 billion worth of assets in the first quarter. These 40 publicly traded companies collectively produced 6.1 million barrels per day of crude oil and other liquids in the United States, or about 30% of all the U.S. liquids production for the quarter.
The impairments represented 22 per cent of the net present value of the 40 companies’ proved reserves as of the end of the previous year, according to the EIA’s analysis.
The data for this analysis, as well as further analysis in the This Week in Petroleum article conducted on capital budgets and credit facility drawdowns, was extracted from Evaluate Energy.
For more on the Evaluate Energy global financial and operating database, click here.