New E&P company bankruptcies in North America 2015-2021
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.
