Dozens of North American oil and gas producers have commenced Chapter 11 bankruptcy cases this year, including most recently, Escalara Resources Co., RAAM Global Energy Company, Miller Energy Resources, Inc., and Parallel Energy LP. The E&P cases filed so far in 2015, including Chapter 7, Chapter 11, and Canadian cases, involve approximately $13 billion in cumulative secured and unsecured debt, and industry and economic indicators suggest more producer bankruptcy filings will occur before the year is out. Lawyers in the Haynes and Boone, LLP Bankruptcy and Energy practices have released the Oil Patch Bankruptcy Monitor, which details a rising tide of 2015 exploration and production company bankruptcies.
Click here to download the E&P Bankruptcy Oil Patch Monitor.
