U.S. Shale Faces Another Round Of Bankruptcies

More than thirty billion dollars: this is the size of the collective debt of oil and gas companies that filed for bankruptcy protection in the first half of the year. That is 23 companies, all but five of which filed during the second quarter when Covid-19 really took hold. Now, with the resurgence of new cases and an equal resurgence in doubts about the outlook for oil demand, more filings are on the way. “It is reasonable to expect that a substantial number of producers will continue to seek protection from creditors in bankruptcy even…