Oil Patch Bankruptcy Monitor
Download the Haynes and Boone Oil Patch Bankruptcy Monitor here – Updated February 7, 2016.
Dozens of North American oil and gas producers commenced Chapter 7, Chapter 11 and Canadian bankruptcy cases in 2015 involving over $17.3 billion in cumulative secured and unsecured debt. As of February 7, 2016, six producers have filed bankruptcy so far this year. Industry and economic indicators suggest more producer bankruptcy filings will occur during 2016. With the slump in commodity prices persisting, the lawyers of Haynes and Boone’s Energy and Bankruptcy Practice Groups are closely following recent industry developments.