The company didn’t offer details about the posttax impairment charge, but analysts said it is likely linked to lower projections for gas prices. Shell also indicated up to $1 billion in additional charges from well write-offs, decommissioning costs and deferred tax charges. Shell’s announcement follows a write-down of more than $10 billion by Chevron Corp. earlier this month, the largest by an energy producer in years. Spain’s Repsol SA, the U.K.’s BP PLC and Norway’s Equinor AS EQNR 0.77% A have also cut asset values in recent months. Energy companies are grappling with one of the U.S. shale boom’s unintended consequences: a global oversupply of natural gas. As a result, companies are predicting weaker-than-expected U.S. gas prices in the coming years. Created with Highcharts 6.1.1Gas GlutEnergy majors are exposed to theoversupplied U.S. gas marketU.S. gas component of energy companies’estimated 2019 productionSource: RBC Capital markets estimates*Includes Europe Created with Highcharts […]