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
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
