As Chapter 11 filings by US E&Ps continue to pile up, onshore oil production from companies that filed for bankruptcy in the last two years is set to decrease by about 25% by the end of 2021, or by about 200,000 barrels per day (bpd) compared to current output levels, a Rystad Energy analysis shows. The loss puts the projected nationwide production growth for 2021 at risk of being offset. Operated oil production from the recent Chapter 11 filings is heavily weighted in the Eagle Ford and Bakken regions, at almost 400,000 bpd. Permian-focused operators that are currently going through restructuring only produce 80,000 bpd in the basin. Across the US onshore industry, about 800,000 bpd of production is operated by E&Ps that have filed for bankruptcy protection in 2019-2020. With limited capex and completion activity, we anticipate production from this group will decline further to 600,000 bpd by […]