Forty publicly traded U.S. oil producers wrote down a collective US$48 billion worth of the value of their assets in the first quarter of 2020, just after oil prices collapsed, the Energy Information Administration (EIA) said on Monday. According to EIA’s analysis of publicly filed financial statements, compiled by data provider Evaluate Energy, the 40 listed companies in the analysis produced a total of 6.1 million barrels per day (bpd) of crude oil and other liquids in the United States, or about 30 percent of all the U.S. liquids production in Q1. The companies include Occidental, Apache Corporation, Concho Resources, ConocoPhillips, EOG Resources, Marathon Oil Corp, Noble Energy, Parsley Energy, Whiting Petroleum Corporation, and Extraction Oil & Gas, Inc, among others. The 40 companies representing around 30 percent of U.S. liquids production made the largest asset impairments in Q1 2020 since at least 2015, according to EIA estimates. “Although […]