Chevron Writes Down Record $10 Billion in Shale Gas Assets, Record Industrywide Nat Gas Write-downs (Video)
Chevron Writes Down Record $10 Billion in Shale Gas Assets, Record Industrywide Nat Gas Write-downs Video by Wall St for Main St
A long, steady increase in U.S. gas production much of it a byproduct of the shale oil boom has pushed prices for the fuel toward a 25-year low.
In response, BP Plc, Repsol SA and Equinor ASA have already written off more than $11 billion in total from the value of North American shale assets just this year. And earlier this week Chevron announced the largest write-down so far on a large amount of their shale gas assets.