Last year saw an acceleration of North American oil and gas bankruptcy filings as a result of the preexisting oil price war and reduced demand from the COVID-19 pandemic.
As Waller's Mark Taylor describes in this article from the Oil & Gas Journal, “The 100-plus oil and gas-related bankruptcies that were filed in 2020 were not foreseeable on Jan. 1, but not shocking in hindsight given the dramatic decline in prices and activity.”
For 2021, obstacles still remain for producers, including tightened capital markets.
Yet, Waller's Eric Taube predicts bankruptcies filings "will continue, but at a slower pace."
For more insights, read the full article here (log-in required).
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