The number of U.S. business bankruptcy filings may have dropped in 2014, according to data compiled by the Administrative Office of U.S. Courts, but the nation’s struggling oil and gas sector is providing opportunities for distressed investors and their restructuring advisers.
The American Lawyer and sibling publication Texas Lawyer noted in February that U.S. oil companies would likely be busy in future months tapping their outside bankruptcy lawyers to help them navigate an era of lower oil and gas prices that have waylaid the North American energy boom. Within the last week, Bloomberg reports the number of U.S. oilrigs fell to 825, a nearly 50 percent slide from a peak of 1,609 in October.
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