More Oil and Gas Bankruptcies Coming
Bankruptcies in the U.S. oil patch are on the rise after the global pandemic decimated demand. But shale companies were struggling before COVID hit, loading up on debt before prices came crashing down.
Law firm Haynes and Boone counted nearly 500 bankruptcies among oil and gas companies since 2015, with 60 so far this year, and 18 filings in July alone.
Buddy Clark, co-chairman for the firm’s energy practice, expects those bankruptcies to accelerate. His Dallas-based firm represents oil and gas clients in bankruptcy court, primarily creditors such as commercial banks and private equity firms.
The Rise of AI, Automation
Joseph “JB” Bendik gives an update on the integration of Artificial Intelligent (AI) and Automation in oil and gas. He also comments on the increased off-shore chatter happening in some industry investment and finance sectors.
To listen to the full length interview
Set to Consider New Round of Oil, Gas Rules, Colorado Regulators Face Questions About Their Authority
With regulators digging into the bulk of proposals to carry out a broad overhaul of oil and gas rules, Colorado’s two top energy-producing counties are questioning the state’s authority to establish minimum standards.
The newly seated full-time Colorado Oil and Gas Conservation Commission is starting two weeks of hearings on the so-called “mission change” portion of regulations implementing Senate Bill 181. The 2019 law changed the COGCC’s mission from fostering oil and gas development to regulating it in a manner that protects the public health, safety and the environment.
The law also expanded local governments’ authority to oversee oil and gas under their powers to regulate land uses. And that’s where the rub is expected as industry and local government representatives, community members and environmental organizations log onto the virtually held hearings that start Monday.
The Crude Life Podcast can be heard every Monday through Thursday with a Week in Review on Friday.
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