Because they are simply not economically extractable at such low oil prices.........almost every major with the possible exception of exxonn has impaired its assets . In otger words these assets are considered stranded and will be left in the ground...... ..but these are non cash impairments that can someday be reversed.......i have lost count how many billions of dollars cpg has impaired ? Seems like 20 billion dollars........every time cpg impaires its assets its ability to borrow money diminishes......like the strawcthat breaks the camels back this oil industry will not recover to its glory days until these impairments stop.....imho

Posted on the CPG SH board by this same guy on July 30th!
Kherson