Shale Bankruptcy Debt Shrinks to Record Low as Oil and Gas Rally

The debt from shale bankruptcies in North America last year shrank to the lowest on records going back to 2015, signaling a pivotal moment for the industry as energy demand rises following a pandemic-driven market crash that led several drillers to go under.

The total debt of bankrupt shale drillers totaled $2.1 billion last year, a significant decrease from a 2017 high of $8.5 billion, according to a reportfrom law firm Haynes & Boone LLP, which has been tracking oil and gas bankruptcies since 2015.

Only 20 oil and gas producers filed for bankruptcy in 2021, down from a ...