August 2020, Vol. 247, No. 8
Global News
Global News
US Oil and Gas Bankruptcies Likely to Continue: Report A wave of oil and gas bankruptcies in North America is likely to continue this year as oil prices remain depressed and a new surge of COVID-19 cases threaten to stall any recovery in fuel demand, according to a report by law firm Haynes and Boone. Bankruptcies surged in the second quarter, including from major shale independents Chesapeake Energy and Whiting Petroleum, as oil prices collapsed due to the pandemic and a price war between Saudi Arabia and Russia. Chesapeake Energy, the largest U.S. oil and gas producer to seek bankruptcy protection in at least five years, has asked for court approval to cancel $311 million in pipel
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