E&P companies account for 67% of 2018 bankruptcies
Energy attorneys Haynes and Boone have released the firm’s updated list of oil and gas bankruptcies, detailing how the continuing downcycle has affected companies.

While oil prices were robust for much of the year, this did not save companies from falling into bankruptcy in 2018. A total of 43 oil and gas companies filed for bankruptcy in 2018, mostly E&P companies. Twenty-nine E&P companies went bankrupt in 2018, compared to 12 service firms and two midstream companies.

While bankruptcies have tapered off since 2017, when a total of 82 companies became insolvent, the proportions of E&P and oilfield service companies has reversed. In 2018 67% of bankruptcies were E&am...

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