The unprecedented collapse in global oil markets is wreaking havoc in all corners of the North American crude industry, pushing shale drillers, deepwater-equipment haulers and oil-sand miners to desperate measures.
In the space of less than an hour on Wednesday, a former high-flying shale operator and an offshore transport company filed for bankruptcy. A short time later, a Texas shale driller was reported to be in talks with restructuring advisers, while a Canadian crude producer warned it may shut an oil-sands mine.
The depredation is evident from the Rocky Mountains to the deep seas off Rio de Janeiro as debt-laden ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.