HOUSTON (Reuters) – Chapter filings by U.S. power producers to date this yr have already almost matched the full for the entire of 2018, regulation agency Haynes & Boone reported on Wednesday, as risky oil and gasoline costs drive corporations to hunt safety from collectors.
A complete of 26 corporations with money owed totaling $10.96 billion have filed for court docket restructuring by mid-August, in accordance with the regulation agency’s report.
Final yr, 28 corporations filed for chapter, itemizing $13.2 billion in debt, whereas 24 corporations sought safety in 2017 with $8.5 billion in debt.
“Up to now this yr there was an uptick within the variety of filings,” Haynes & Boone stated, noting 20 of the filings have been since Might.
Via most of 2019, U.S. gentle, candy crude oil