Company Peer Group Analysis—Gas-weighted E&Ps: After the 2020 pandemic, difficult times still lie ahead for our Gas-weighted E&P operators
22 Apr 2020 - Upstream Companies and Transactions | Insight
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Bryan McNamaraBryan McNamaraDirector
Even under a low-gas-price scenario, the majority of operators in the IHS Markit Company Research Gas-weighted E&Ps peer group will generate enough EBITDA each quarter to pay their interest expenses in 2020. Debt maturing in 2020 is not a real concern, yet the $10 billion coming due between 2021 and 2023 is alarming given the health of most operators’ balance sheets. We expect several operators to announce a reduction to their 2020 capital spending program, including Chesapeake Energy and Southwestern Energy, as well as a potential second cut by Range Resources.
Article Information
Companies
Antero Resources Corporation; Cabot Oil & Gas Corporation; Chesapeake Energy Corporation; Comstock Resources Incorporated; EQT Corporation; Gulfport Energy Corporation; Range Resources Corporation; Southwestern Energy Company
Locations
Marcellus Shale (United States); United States of America
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Company Peer Group Analysis—Gas-weighted E&Ps: After the 2020 pandemic, difficult times still lie ahead for our Gas-weighted E&P operators