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Haynes & Boone Expect Approx. 100 Oil & Gas Bankruptcies in 2020 4/3/2020

Haynes & Boone co-chair of the energy practice Buddy Clark is expecting approx. 100 US oil & gas firms to file for Chapter 11 within a year. 

According to S&P Global Ratings, the number of firms with a distressed credit ratio has risen from 25% at year-end 2019 to a March 2020 level of 94%.  

In the release, the following companies were named as potential Chapter 11's:

  • Chesapeake Energy
  • California Resources
  • Denbury Resources
  • Ultra Petroleum
  • Oasis Petroleum

Russia Ramps Up LNG Production Target for 2035 to 80-140 Mtpa 4/3/2020

Russia reported a new national LNG production target for 2035 of 80-140 Mtpa, rising from the prior goal of 70-82 Mtpa.  The 2024 target remained unchanged at 46-65 Mtpa.  

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