Oil Patch Bankruptcies Are Just Getting Started
North American Oil Patch Bankruptcies Are Just Getting Started
At the beginning of May, I covered the latest edition of law firm Haynes and Boone LP’s May Oil Patch Bankruptcy Monitor, which showed that April was a bloodbath for struggling oil companies and their creditors. 18 North American oil and gas producers filed for Chapter 11 during April according to the report, listing $14.9 billion in debt, more than any other month since the beginning of 2015.
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