The following video is brought to you courtesy of the Forbes YouTube Channel. Click the video below to watch it now.
Like many major industries, the global pandemic has hit the oil and gas sector hard. While consumers benefit from low gas prices, many oil companies are expected to file for bankruptcy in 2020 in order to restructure their finances.
In the past month, Ultra Petroleum, Fieldwood Energy, Whiting Petroleum, Sanchez Energy, Diamond Offshore and others have announced restructurings. More companies are reportedly prepping Chapter 11 filings, including Oasis Petroleum, Denbury Resources, FTS International and that onetime champion of the Great American Fracking Boom: Chesapeake Energy.
Read the full profile on Forbes: https://www.forbes.com/sites/christopherhelman/2020/05/18/oil-is-back-tweets-trump-not-so-fast-says-reality/#5c1d577ad948
Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.”