United States exploration and production (E&P) companies are vulnerable to the often volatile oil and gas market. Between 2015 and June 30, 2020, 109 Texas based E&P companies filed for bankruptcy.
The coronavirus pandemic has had a catastrophic impact on the world's oil and gas industry, with the United States oil industry being hit very hard as well. Declining consumer demand and high levels of production output resulted in dwindling storage capacities, ultimately causing the price of crude oil to fall to negative prices for the first time in history. This relatively recent development has resulted in an increase in E&P company bankruptcy filings.
Number of exploration and production (E&P) company bankruptcy filings in the United States from 2015 to June 2020 by state
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Haynes and Boone. (June 30, 2020). Number of exploration and production (E&P) company bankruptcy filings in the United States from 2015 to June 2020 by state [Graph]. In Statista. Retrieved November 26, 2024, from https://www.statista.com/statistics/1134295/us-upstream-oil-company-bankruptcy-filings-by-state/
Haynes and Boone. "Number of exploration and production (E&P) company bankruptcy filings in the United States from 2015 to June 2020 by state." Chart. June 30, 2020. Statista. Accessed November 26, 2024. https://www.statista.com/statistics/1134295/us-upstream-oil-company-bankruptcy-filings-by-state/
Haynes and Boone. (2020). Number of exploration and production (E&P) company bankruptcy filings in the United States from 2015 to June 2020 by state. Statista. Statista Inc.. Accessed: November 26, 2024. https://www.statista.com/statistics/1134295/us-upstream-oil-company-bankruptcy-filings-by-state/
Haynes and Boone. "Number of Exploration and Production (E&p) Company Bankruptcy Filings in The United States from 2015 to June 2020 by State." Statista, Statista Inc., 30 Jun 2020, https://www.statista.com/statistics/1134295/us-upstream-oil-company-bankruptcy-filings-by-state/
Haynes and Boone, Number of exploration and production (E&P) company bankruptcy filings in the United States from 2015 to June 2020 by state Statista, https://www.statista.com/statistics/1134295/us-upstream-oil-company-bankruptcy-filings-by-state/ (last visited November 26, 2024)
Number of exploration and production (E&P) company bankruptcy filings in the United States from 2015 to June 2020 by state [Graph], Haynes and Boone, June 30, 2020. [Online]. Available: https://www.statista.com/statistics/1134295/us-upstream-oil-company-bankruptcy-filings-by-state/
