Prescient planning by some U.S. explorers should enable many of them to keep their heads above water this year, but if oil prices don’t rebound by 2016, liquidity issues will surface, according to Standard & Poor’s Ratings Services (S&P). S&P Managing Director Tom Watters and a team of credit ratings analysts discussed the outlook for the sector during a teleconference on Wednesday. S&P last week downgraded 23 domestic exploration and production (E&P) companies on dimming prospects to secure more credit. Although some prognosticators believe the sky is falling, domestic E&Ps this year should be able to maintain operations even under low, sustained oil prices.
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