Oil Bankruptcy Fights Loom As Prime Lenders Get Squeezed

By Keith Goldberg (September 4, 2019, 8:36 PM EDT) -- The latest bankruptcy wave hitting the U.S. oil patch has experts bracing for longer and nastier court battles fueled by depressed asset values starting to bite banks and other first-lien lenders, which could increasingly leave junior and unsecured creditors empty-handed.

There have been 26 upstream oil and gas company bankruptcies in 2019 through mid-August — nearly as many as in the entire year of 2018 and more than in all of 2017, according to figures compiled by Haynes and Boone LLP. But this stretch of insolvency is expected to look different, as banks and other first-lien holders may be forced to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!