Chesapeake Among Most Endangered Shale Producers in Oil Rout
- Chesapeake, Whiting, Ultra cratering as executives seek relief
- Towering wall of debt maturities closing in amid price rout
Photographer: Daniel Acker/Bloomberg
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Tumbling oil prices around the world are shining a light on the U.S. shale producers that are most at risk because of heavy debt loads.
“I wouldn’t be surprised to see 55 to 60 bankruptcies” this year, compared with 50 last year, said Raoul Nowitz, managing director of restructuring and distressed asset support services at SOLIC Capital. That number may grow if the price slump persists for an extended period, he said.