‘Big Cut Is Here,’ Says Yergin, as North American E&Ps Slammed by Coronavirus and Price War

摘要

The energy sector was quick to take a red pen to the 2020 budget in March as the coronavirus turned into a pandemic and the price war continued overseas, but some operators are fnding they have to cut deeper in the face of uncertain demand for oil and gas. For North American exploration and production (E&P) companies, a consensus appears to be building around average capital expenditure (capex) reductions of 35-40% from 2019, as Evercore ISI reported earlier this month.