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Number of Oil and Gas Bankruptcy Filings Is Alarming
Since the beginning of 2015 more than 100 oil and gas companies have filed for bankruptcy. To put these bankruptcies in context, the number of oil and gas bankruptcy filings is on par with the dot-com bust of the early 2000s. The increase is due to overzealous lending and a sustained crash in the price of oil. Many banks gave loans to companies with the assumption that oil prices would hover around $100/barrel.…Read More