Deals
Oil Rout Ratchets Up Pressure on Producers: Real M&A
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The rout in crude oil is turning out to be more than just a blip, and producers that are feeling the pinch may have to start selling.
Energy company bonds tracked in a Bloomberg high-yield index -- representing a combined face amount of about $180 billion -- trade on average at levels that would be considered distressed. The gauge includes explorers such as Halcon Resources Corp., Energy XXI Ltd. and Goodrich Petroleum Corp., all of which could turn to asset sales to shore up their finances.