Posted by panaprop on 11th of Nov 2015 at 09:56 pm
Eleven months of depressed oil prices are threatening to topple
more companies in the energy industry.
Four firms owing a combined $4.8 billion warned this week that
they may be at the brink, with Penn Virginia Corp., Paragon
Offshore Plc, Magnum Hunter Resources Corp. and Emerald Oil Inc.
saying their auditors have expressed doubts that they can continue
as going concerns. Falling oil prices are squeezing access to
credit, they said. And everyone from
Morgan Stanleyto
Goldman Sachs Group Inc.is predicting that energy prices won’t
rebound anytime soon.
As reported by Bloomberg Business
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Energy defaults are coming as reported by Bloomberg
Posted by panaprop on 11th of Nov 2015 at 09:56 pm
Eleven months of depressed oil prices are threatening to topple more companies in the energy industry.
Four firms owing a combined $4.8 billion warned this week that they may be at the brink, with Penn Virginia Corp., Paragon Offshore Plc, Magnum Hunter Resources Corp. and Emerald Oil Inc. saying their auditors have expressed doubts that they can continue as going concerns. Falling oil prices are squeezing access to credit, they said. And everyone from Morgan Stanleyto Goldman Sachs Group Inc.is predicting that energy prices won’t rebound anytime soon.
As reported by Bloomberg Business