Back in April, we reported that U.S. oil and gas companies were still filing for bankruptcy at record levels right in the midst of an oil price recovery. Smaller producers were the main victims as a total of eight North American oil and gas producers with an aggregate debt of $1.8B filed for bankruptcy protection in Q1 2021. But it now appears that the massive wave of bankruptcies has finally abated. According to Energy and restructuring law firm Haynes and Boone , just four U.S. exploration and production (E&P) companies filed for Chapter 11 during the second quarter, bringing the tally for H1 2021 to 12, the lowest number in six years. More importantly, there were no producers with billion?dollar bankruptcies during the quarter, the first time this has happened in 12 consecutive quarters. The aggregate debt tab of $1.8B by the four E&Ps that filed for protection ranks […]