Five companies within the exploration and production (E&P) sector in North America filed for bankruptcy in the fourth quarter of 2021. The coronavirus pandemic has notably impacted liquidity of North American upstream oil and gas companies, especially in mid-2020. North American E&P companies were understandably hit hard by mobility restrictions and declining consumer demand. In 2020, 46 such companies filed for bankruptcy. The largest number of bankruptcy filings in any quarter occurred in the second quarter of 2016, during the oil glut.
Quarterly number of oil and gas exploration and production (E&P) company bankruptcy filings in North America from Q2 2015 to Q4 2021
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Haynes and Boone. (January 30, 2022). Quarterly number of oil and gas exploration and production (E&P) company bankruptcy filings in North America from Q2 2015 to Q4 2021 [Graph]. In Statista. Retrieved June 17, 2024, from https://www.statista.com/statistics/858840/upstream-oil-company-bankruptcy-filings-in-north-america/
Haynes and Boone. "Quarterly number of oil and gas exploration and production (E&P) company bankruptcy filings in North America from Q2 2015 to Q4 2021." Chart. January 30, 2022. Statista. Accessed June 17, 2024. https://www.statista.com/statistics/858840/upstream-oil-company-bankruptcy-filings-in-north-america/
Haynes and Boone. (2022). Quarterly number of oil and gas exploration and production (E&P) company bankruptcy filings in North America from Q2 2015 to Q4 2021. Statista. Statista Inc.. Accessed: June 17, 2024. https://www.statista.com/statistics/858840/upstream-oil-company-bankruptcy-filings-in-north-america/
Haynes and Boone. "Quarterly Number of Oil and Gas Exploration and Production (E&p) Company Bankruptcy Filings in North America from Q2 2015 to Q4 2021." Statista, Statista Inc., 30 Jan 2022, https://www.statista.com/statistics/858840/upstream-oil-company-bankruptcy-filings-in-north-america/
Haynes and Boone, Quarterly number of oil and gas exploration and production (E&P) company bankruptcy filings in North America from Q2 2015 to Q4 2021 Statista, https://www.statista.com/statistics/858840/upstream-oil-company-bankruptcy-filings-in-north-america/ (last visited June 17, 2024)
Quarterly number of oil and gas exploration and production (E&P) company bankruptcy filings in North America from Q2 2015 to Q4 2021 [Graph], Haynes and Boone, January 30, 2022. [Online]. Available: https://www.statista.com/statistics/858840/upstream-oil-company-bankruptcy-filings-in-north-america/