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Oil Patch Bankruptcy Summary 2015-2016 [Haynes and Boone]

Haynes and Boone: Oil Patch Bankruptcy Monitor – December 14, 2016

  • 114 North American oil and gas producers have filed for bankruptcy since beginning of 2015 (presentation as of 12/14/16)
  • Approximately $74.2 billion in cumulative secured and unsecured debt across Chapter 7, Chapter 11, Chapter 15, and Canadian cases
  • As of 12/14/16, 70 filings in 2016, representing approximately $56.8 billion in debt
  • 2015 – 2016 cumulative E&P unsecured, secured, and aggregate debt:

aggregate-debt

Source: Haynes and Boone: Oil Patch Bankruptcy Monitor
  • Texas bankruptcy courts remain top of the venue leaderboard both in terms of number of filings and cumulative debt amount (51 filings representing $32.5 billion in debt)
  • Top 3 filing locations in the US (in terms of aggregate debt amount):
    • Texas: 51 filings; $32.5 billion in debt
    • Delaware: 17 filings; $18.6 billion in debt
    • New York: 5 filings; $18.6 billion in debt
  • Complete list of North American bankruptcies 2015 – 2016:

2015-bankruptcies

2016-bankruptcies

2016-bankruptcies-2

Source: Haynes and Boone: Oil Patch Bankruptcy Monitor
Image Source: Shutterstock

Further readings:
Haynes and Boone – Midstream Report, updated 12/14/16 as of 1/2/17
Haynes and Boone – Oilfield Services Bankruptcy Tracker, updated 12/14/16 as of 1/2/17

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