Doug Lawler, chief at shale gas forerunner Chesapeake Corp., tells CERAWeek audience the commodity price downturn forced independent upstream companies to become stronger. The dramatic price downturn that bankrupted more than 100 exploration and production (E&P) companies forced those the rest to become stronger, according to Chesapeake Corp. CEO Doug Lawler. “It’s definitely been a challenging time for the independent sector and Chesapeake in particular,” Lawler told a CERAWeek by IHS Markit audience in Houston on Monday. “But looking back, it’s actually best thing that could’ve happened to us.” Lawler explained the downturn put things into perspective for independent oil and gas companies. They needed to make material improvements in balance sheets and capital efficiency, he said during a panel discussing investment during uncertain times. A dismal prospect actually prepared those companies that survived to thrive in the future. “When you look at the U.S., I don’t believe you […]