More US energy companies could be at risk of bankruptcy
Friday, February 26, 2016
As many as a third of oil and gas producers are at risk of bankruptcy this year, according to Deloitte, as reported by Reuters.
The source says that Sabine Oil & Gas and Quicksilver Resources are two U.S. energy producers seeking Chapter 11 bankruptcy protection. Both companies are attempting to terminate pipeline contracts.
There haven’t been a lot of bankruptcies filed so far during the industry downturn, but most of those that have filed have been small firms.
Read more: Reuters > As U.S. shale sinks, pipeline fight sends woes downstream
Related:
As crude oil prices fall, more US companies may face bankruptcy Jan. 15, 2016
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Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
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