Bankruptcy Fears Turn Into Merger Mania In U.S. Oil Patch ...Middle East

How quickly fortunes can change in the oil and gas business. Last year, U.S. oil and gas companies were still filing for bankruptcy at record levels right in the midst of an oil price recovery. Smaller producers were the main victims; eight North American oil and gas producers with an aggregate debt of $1.8B filed for bankruptcy protection in Q1 2021. But it’s now official: the tidal wave triggered by the price correction that began in late 2014 is finally over. According to the final report by energy and restructuring law firm Haynes and…

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