Not everyone in the shale patch is profiting from the higher oil prices this year, the continuously rising oil production in the Permian, and the record U.S. crude output. While larger players, including supermajors Exxon and Chevron, are expanding their Permian presence and aim to grow production volumes significantly over the next few years, small, third-tier exploration and production companies across the U.S. are struggling even at WTI Crude prices of above $60 a barrel. Some small players who have been relying on borrowings to finance drilling are now finding themselves in a position to look for options to restructure debt, including by seeking Chapter 11 bankruptcy protection. Despite the oil price rally in Q1 this year, some smaller firms are struggling to stay afloat. And analysts think that this year could be more painful for more E&P players in the shale patch than last year. U.S. shale production […]