U.S. E&P company number of bankruptcy filings by state 2015-2020
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.
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.
