Last year, the energy industry was rocked by record bankruptcies and write-downs that did not spare even the oil majors. According to Energy and Restructuring law firm Hayes and Boone’s , a grand total of 50 energy companies filed for bankruptcy last year, including 33 oil and gas producers, 15 oilfield services companies and two midstream companies. Meanwhile, Chevron Corp ., Schlumberger, and Royal Dutch Shell announced multi-billion dollar asset impairments citing unfavorable macro outlook. And this specter of doom and gloom appears set to continue for much longer, with concerns mounting that the ax could now fall on debt-ridden oilfield services companies. North American oilfield services and drilling companies face a $32 billion wave of debt that will come due this year through 2024, a daunting prospect considering that oil prices have crashed to nearly 20-year lows. The outlook appears particularly grim for companies in dire need of […]