$17 Billion and Counting: The Oil Writeoffs are Piling Up Fast

Oil prices climbed on the eve of October’s busiest day of earnings season, but significant impairment charges put a damper on the brief rally. Large scale oil producers wrote off billions in the early stages of Q3’15 earnings, as Anadarko Petroleum (ticker: APC), Freeport McMoRan (ticker: FMX), Occidental Petroleum (ticker: OXY) and Whiting Petroleum (ticker: WLL) wrote off more than $12 billion combined. A list of company-declared impairments are listed below.

Q3’15 Reporting Company

Write Off (Millions)

Anadarko Petroleum...