3 Oil Stocks That Could Go Bankrupt in 2020
This year's oil market downturn has sparked a steady stream of bankruptcy filings in the industry. The sector's biggest one yet came in late June, when Chesapeake Energy finally collapsed under the weight of its debt. Two weeks later, frack sand producer Hi-Crush followed Chesapeake and its rivals Covia and Vista Proppants & Logistics, which both filed in June.
More bankruptcies seem inevitable despite the recent rebound in crude oil prices because so many oil companies are in financial trouble. Three that look like the next dominos to fall are oil producers California Resources (NYSE: CRC), Denbury Resources (NYSE: DNR), and offshore driller Valaris (NYSE: VAL).
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Source Fool.com
