Wall Street Gears Up For Onslaught Of Oil & Gas Bankruptcies
By ZeroHedge - Sep 03, 2019, 3:00 PM CDT
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Oil and gas companies are facing an onslaught of bankruptcies as the "shale revolution" appears to be coming to an unceremonious end, at least on Wall Street, according to the Wall Street Journal.
Companies like Sanchez Energy Corp., Halcon Resources Corp. and 26 other oil and gas producers have all filed for bankruptcy this year, already matching the 28 industry bankruptcies from all of 2018. The number is expected to rise as debt maturities for those looking to cash in on the shale revolution and make bets on higher oil prices years ago are now looming.