The March 2020 oil price crash and COVID-19 pandemic has hit the global energy sector hard. In response oil companies are slashing capital spending, driving down costs and shuttering uneconomic operations. The key goals being to preserve cash flow, shore-up balance sheets, protect dividend payments and retain investor confidence in the current harsh operating environment. This, however, may not be enough. The severity of the crisis recently forced oil giant BP to slash its dividend by half after posting a shock $16.8 billion second quarter 2020…
