7 Stages Of Grief: Impact Of Oil Downturn On Energy Attys

Law360, New York (May 3, 2016, 2:43 PM EDT) -- Andrew Calder

David Castro

Joshua A. Sussberg Beginning in late 2014, the price of oil fell from over $100 per barrel to under $30 per barrel by early 2016. This decline in commodity prices created a toxic cocktail for U.S. producers when added to a significant expansion of drilling in the preceding years and frothy debt and equity capital markets that provided easy access to capital to fuel increased activity. As oil fell, many companies recognized that their capital structures were unsustainable in a lower-price environment. The response to this commodity price crisis has affected energy attorneys throughout the U.S., and...

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