U.S. shale producer Parsley Energy said March 18 it would slash executive pay 50%, the deepest such cut announced so far since the oil price collapse.
Gulfport Energy has lost four-fifths of its market value since the start of the year, and now has a market cap of $90 million.
Marathon Petroleum said the separation of midstream unit MPLX would be cash-flow negative and require between about $11 billion and $15 billion that would otherwise go toward shareholder returns.
Halliburton's stock has fallen around 70% in the past four weeks, to $6.14. The oilfield services provider already took a series of aggressive cost-cutting measures last year.
The debt market door remains open for higher-rated issuers, but it slammed shut for lower-rated names, as WTI prices fell after ending 2019 north of $60/bbl.
The collapse in oil and weak gas prices has further crippled Chesapeake Energy, the shale energy pioneer already facing a $9 billion debt pile.
On average, Reuters estimates North America oil and gas producers have cut their 2020 budgets by about 30% since the fall in oil prices.
EnCap Investments pulled off a rarity in the U.S. shale business earlier this month with the sale of Felix Energy to rival WPX. However, EnCap's big payday proved short-lived.
ProPetro disclosed Dale Redman, co-founder and former CEO, had violated its insider trading policies over shares pledged for personal loans, which led the company to submit false statements to the SEC.
Just 16 U.S. shale companies operate in oil fields where the average new well costs are below $35 per barrel, according to Rystad Energy.