Bankruptcies Continue for Shale Producers
October 05, 2020
According to the law firm Haynes and Boone, the financial carnage is far from over for oil and gas producers. In Q3 there were 13 new bankruptcies. This follows 18 new filings in Q2. The five-year period ending in August has seen 244 bankruptcy filings. The total debt in bankruptcy now exceeds $60 billion for producers, oilfield services and midstream sectors.