Illustration contains a transparency blends/gradients. Additional .aiCS6 included. EPS 10Michael Cuda, Max Tucker and Susan Kelly have written an article for Corporate Rescue & Insolvency analysing the increase in US oil and gas bankruptcies as a direct result of the declining oil price, and the related decrease in the borrowing base availability.

This has led to a number of Chapter 11 proceedings throughout the US, and with oil prices only slowly recovering to around $50 per barrel (as of end of July 2015) the liquidity crises hitting the industry appears likely to continue over the next six months.

This article first appeared in Corporate Rescue and Insolvency August 2015 edition.