Bankruptcies in the U.S. energy field are shifting, fuelfix.com reports:
"Fewer and fewer oil exploration and production companies are declaring bankruptcy.
"But more oilfield service companies are.
" ... it’s been an especially tough few months for service companies. As crude prices began crashing in 2014, drillers started idling rigs. That led to fewer jobs for the companies that make their money helping producers pump oil and gas. Moreover, when producers did hire service companies, they often forced them to heavily discount their rates.
"Eight service companies filed this month. Seven filed last month, and eight again the month before. Almost 50 have filed in the last six months, half of the 108 over two years."
Read the full story here.