Record numbers of oil and gas companies are filing for Chapter 11 bankruptcy protection. According to Energy and restructuring law firm Haynes and Boone, bankruptcies by the oil firms, especially the North American oil producers, climbed to the highest first-quarter level since 2016 as energy firms continue to struggle to recover from the carnage of the oil price crash in 2020. Haynes and Boone has reported there were eight bankruptcies by North American oil and gas producers in Q1 2021, the second-highest figure for a first-quarter ever since 17 were…
Read MoreOil firms file for bankruptcy as recovery battle turns tough
