Oil Patch Bankruptcies Hit $66.5 Billion

The number of oil patch bankruptcies continues to rise, and the number of large companies with billions owed to creditors is accelerating. This revelation comes from to law firm Haynes and Boone LP’s Oil Patch Bankruptcy Monitor. The Oil Patch Bankruptcy Monitor is updated every few months and since its inaugural issue at the beginning of 2015, the report has highlighted bankruptcies, including Chapter 7, Chapter 11, Chapter 15, and Canadian cases, which involve approximately $66.5 billion in cumulative secured and unsecured debt ValueWalk has followed the trends in Haynes and Boone’s Oil Patch Bankruptcy Monitor closely since its inception last year. Up…