The likelihood of US oil and gas producers defaulting on their debt has jumped 30 per cent over the past year as the industry continues to reel in the wake of the oil price crash, writes Myles McCormick for the Financial Times.
The article highlights Credit Benchmark credit risk data on US Oil & Gas companies to illustrate the ongoing challenges faced by the sector in recent months.
“A new report by Credit Benchmark suggests credit quality in the sector has slumped 19.3 per cent over the past two months and 29.6 per cent over the past year as producers struggle to turn a profit in the weaker price environment.”
The Financial Times, June 30, 2020.
