Oil Patch Bankruptcy Monitor
View the Haynes and Boone Oil Patch Bankruptcy Monitor – Updated May 16, 2016.
Haynes and Boone has tracked 77 North American oil and gas producers that have filed for bankruptcy since the beginning of 2015. These bankruptcies, including Chapter 7, Chapter 11, Chapter 15 and Canadian cases, involve approximately $51.9 billion in cumulative secured and unsecured debt. As of May 16, 2016, 35 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.