Better days may be ahead for energy companies after a busy year of bankruptcies, with the coronavirus pandemic culling the weakest borrowers and investors pricing in a sharp economic recovery when vaccines become widely available. About $144 billion of energy bonds were trading at distressed levels in the middle of March when the pandemic sent oil demand plunging, but that number receded to $37 billion by the end of November. That’s because some oil and gas companies have filed for bankruptcy while others have seen their fortunes rebound, according to Bloomberg Intelligence. Nabors Industries Ltd., Transocean Ltd., and Callon Petroleum Co. are among the relatively few energy companies with debt still trading at distressed levels that have not filed for bankruptcy, and may never. The average yield on the Bloomberg Barclays High Yield […]