Despite a recent flurry of upstream companies emerging from bankruptcy, more filings are expected well into 2017, pushing the fallout from the downturn into a third year. Editor’s Note: This is the third in a series of outlook stories examining expectations for the oil and gas business in 2017. As the oil and gas industry downturn cycles into 2017, dozens of exploration and production (E&P) companies remain vulnerable to market whims that threaten bankruptcy. Since January 2015, more than 100 North American exploration and production (E&P) companies have filed for bankruptcy, according to the Haynes & Boone law firm. As of Oct. 19, those bankruptcies and other restructuring arrangements involved almost $70 billion in cumulative secured and unsecured debt. Some estimates suggest the industry has only reached the half point in the downturn’s bankruptcy filings. Bill Rhea, a consultant and bankruptcy lawyer in Texas, told CNBC the deluge of […]