Driller becomes 18th to seek bankruptcy in Texas
The firm recently cut 15 employees and saw several managers resign.
View ArticleSome offshore supply vessel companies teetering on bankruptcy
Even before crude prices collapsed and triggered a retreat from expensive deepwater projects, the offshore supply vessel industry was struggling with rising debt and too much competition jockeying for...
View ArticleOil drillers face $102 billion cash shortfall in 2016
North America oil drillers will likely come up $102 billion short on the cash they need to operate this year as crude prices fall to $30 a barrel, according to a study by the consultancy AlixPartners.
View ArticleDrillers’ cash-flow gap expected to rise to $130 billion in 2016
Morgan Stanley recently cut its 2016 outlook for U.S. crude by 11 percent to $37 a barrel.
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