The number of bankruptcies in the energy sector rose during the third quarter as the coronavirus pandemic continued to take its toll on the oil and gas industry.
Debt-strapped Fieldwood Energy is filing for Ch. 11 bankruptcy protection the same day it said it would acquire Noble Energy's Gulf of Mexico assets in a roughly $700 million deal.
While more than 180,000 onshore wells are producing oil in Texas, only 8,250 have been drilled by Petroleos Mexicanos across the border in Mexico. Welcome to the land of opportunity.