Resources

Louisiana-based Hornbeck Offshore Services, Inc., an operator of oil supply and support vessels, opted for bankruptcy after an acute collapse in energy prices.

Bankruptcy has claimed British chemical manufacturer Venator Materials PLC after years of struggle with both high European energy costs and waning demand.

For the second time in four years, Seadrill Limited is bankrupt. The company is the latest in a series of offshore rig firms to seek court protection from creditors following spending cuts by the energy sector in wake of the COVID-19 pandemic.

A popular technology solutions provider to the energy sector, Houston-based McDermott International, Inc. has met Chapter 11 bankruptcy - a fate which wouldn't have surprised vigilant CreditRiskMonitor subscribers.

Chemical products manufacturer Venator Materials PLC is facing major headwinds in low product demand and high material and energy costs. Could the once-powerful British company be nearing an administration filing?

Houston-based Halcón Resources Corporation is the latest North American energy company to meet bankruptcy in 2019. Their weak liquidity, lack of working capital and excessive corporate overhead all ultimately proved too much to keep Chapter 11 at bay.

Oil and gas geosurveying company Ion Geophysical Corporation defaulted on its debt obligations earlier this year and announced forbearance and an amendment extension. The Houston-based company is the latest to fall during a post-COVID-19 energy crisis.

German-based manufacturer SGL Carbon SE provides carbon fiber materials to various end markets of automotive, wind energy, and aerospace. Despite customers steadily recovering, the company continues to struggle with thin margins and high leverage.

CreditRiskMonitor’s proprietary FRISK® score has Colorado-based energy giant Westmoreland Coal Company at a "1," the highest probability of bankruptcy within the next 12 months.