Oil prices imploded earlier this year, which has decimated many oil stocks. Things have gotten so bad that several have already declared bankruptcy. That trend islikelyto continue in the coming months.
The list of at-risk oil stocks seems to be growing by the day as companies update the market on their deteriorating credit profiles. Four that seem to be likely bankruptcy candidates this year areBorr Drilling(NYSE:BORR), California Resources (NYSE:CRC), Denbury Resources (NYSE:DNR), and Oasis Petroleum (NYSE:OAS).
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Double the bad news
John Bromels(Borr Drilling): Offshore rig operator Borr Drilling just released a Q1 financial update and a fleet status report on May 20, and neither one was pretty.
Of the 30 d…
Read the full article at: https://www.fool.com/investing/2020/05/24/4-more-oil-stocks-that-could-go-bankrupt-in-2020.aspx