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Tuesday, September 29th, 2020
Home » Tag Archives: Shale producer bankruptcy

Tag Archives: Shale producer bankruptcy

How a Texas shale supplier’s founders made fortunes as the firm failed

Drilling rigs operate at sunset

REUTERS, AUGUST 13, 2020 (Reuters) – On July 7, the board of directors at Texas fracking sand supplier Hi-Crush granted nearly $3 million in bonuses to four top executives, including $1.35 million for CEO and founder Robert Rasmus. Five days later, the company declared bankruptcy. The payout marked the latest in a series of board decisions that allowed the oilfield …

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Chesapeake’s Collapse Is Latest in Long Line of Shale Disasters

Oil storage tanks

BLOOMBERG, JUNE 29, 2020 Over 200 North American producers have gone under since 2015 | This year, at least 20 have filed for bankruptcy protection By David Wethe for Bloomberg – The shale bust has reached a grim milestone by claiming the pioneer of America’s drilling renaissance. But Chesapeake Energy Corp., which filed for bankruptcy protection on Sunday, is just the latest …

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