Latest U.S. bankruptcies by oil and gas companies

http://mobile.reuters.com/article/id...50108?irpc=932

Maybe the new congress will give them a bailout.

Culling the herd, exactly as it should work

The price decline has put acute pressure on small companies with weak balance sheets and hurt sales for related services companies that sell everything from sand to drilling rigs to temporary housing.

If any company in and around the oil industry has a weak balance sheet after the last many years, there is probably a more fundamental problem internally and/or poorly managed.

How exposed are banks ?

Could this trigger any crisis in the financial sector?

Only in Obama's America could an oil company go bankrupt.

Only in Obama's America could an oil company go bankrupt. Originally Posted by JD Barleycorn

Only in a global market with a free enterprise system would a idiot blame Obie.

Perhaps some of that overpriced S. Texas deer lease property will come back down to reality once those oil leases don't get paid.

How exposed are banks ?

Could this trigger any crisis in the financial sector? Originally Posted by Whirlaway

It did in the 80's.

The one's at risk loaned based on glowing speculations of rising oil prices.

The "Junior-Birdmen" VP's in 3-piece suits passing out loans like flower petals will blame ...... someone else for their demise. No more perks: deer hunting and jet rides.