More oil company bankruptcies likely on the way

摘要

Houston-At least two oil-company bankruptcies have occurred in the last two weeks and a third one is pending, adding to several dozen already on the books even as crude prices rallied in mid-March. And more are expected if oil prices remain about where they are, experts say. Close to 60 bankruptcies with debts totaling around $19 billion have been declared in the last 15 months, according to international law firm Haynes and Boone which publishes a bankruptcy monitor. That is up from a total 51 companies with just over $17 billion of cumulative debts just a month ago. Last year, 42 companies declared bankruptcy.