Economy
Extraction Oil & Gas Files for Bankruptcy Amid Commodity Slump
(Bloomberg) — Extraction Oil & Gas Inc. filed for bankruptcy, becoming the latest producer to succumb to high debt and dwindling liquidity amid a difficult environment for energy companies.
The Denver-based company filed in Delaware after skipping a May 15 interest payment on its 2024 bonds, triggering a 30-day grace period while it explored strategic options to address its roughly $1.5 billion of debt.
Its bankruptcy filing follows a collapse in oil prices to historic lows as the coronavirus pandemic slashed demand, and Saudi Arabia and Russia competed for market share. Extraction withdrew its 2020 guidance in May and warned it may have to file for bankruptcy.
More than 200 North American producers have filed for Chapter 11 since the beginning of 2015, according to a May report from law firm Haynes & Boone.
SafaQat Platform Attracts National Investment to Boost Digital Transformation
Future Fund Oman Approves Projects worth RO1.2 Billion
Foreign Direct Investment in Oman Surpasses RO30 Billion
Workshop Highlights Oman’s Circular Economy Gap Calculation Project
LuLu Exchange & LuLu Money Partner with the Argentine Football Association
Sohar International Partners as Main Sponsor for Refill 3, a Culinary and Cultural Festival Driving Tourism in Khareef Dhofar
Tender results of Government Treasury Bills worth RO21.7 million issued
SPIEF 2025 exhibits Russia’s economic developments and cultural heritage
SPIEF 2025 achieves significant milestones across sectors
SPIEF 2025 stresses on global dialogue and a multipolar world
Power And Beyond: The Path To A Low-carbon Future
Time to Buy Saudi Stocks? Some Investors Look at Dubai Instead
Al Mouj Muscat unveils Ghadeer Villas
Renewables are booming, but not fast enough to cap greenhouse emissions
Retail Abu Dhabi’s ‘Unbox Amazing’ generates sales of more than AED 2 billion in participating stores
Hospitality Industry in Oman Estimated 90% Growth in 2022
Saudis Sign Deals From Energy to Metals in Bid to Salvage Forum
Saudi Arabia’s Gold Miner Plans to Be a Global Top-20 Supplier
Technology to drive Sultanate’s downstream industry
Digitization and Logistics Service Providers Can Help SMEs Make the Most of Peak Season Retail Trends
The Future of Oman: Decoding The Sultanate of Oman’s Strategic Promotional Nation Brand
EXCLUSIVE: AI, Robotics & Wearable Sensors are Changing the Lives of Dementia Patients
EXCLUSIVE: Talking Renewable Projects & Sustainability in Oman and Beyond with Vipul Tuli
VIDEO: Eng. Salim Al Thuhli, CEO, Khazaen Economic City on Investment Opportunities
H.E. Salim Al Aufi, Minister of Energy & Minerals talks about Oman’s Green Hydrogen Goals
VIDEO: Talking Latest Developments in Aircraft Ground Guidance & More at Oman Airports
VIDEO: Dr. Firas Al-Abduwani Discusses Green Hydrogen, Potential Regions for Development & Creating a Green Ecosystem
VIDEO: Discussing The Future of Green Hydrogen in Oman with H.E. Salim Al Aufi
Celebrating Infoline’s Remarkable 20-Year Journey
OQ Gas Networks S.A.O.G Announces Intention To Float on the Muscat Stock Exchange
-
Banking & Finance1 month agoOman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Bahrain1 month agoSPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Banking & Finance2 months agoCentral Bank of Oman Issues Regulatory Framework for Digital Banks
-
Banking & Finance3 weeks agoNational Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
Insurance2 months agoLiva Insurance Sets New Benchmark with ‘Innovative Insurer of the Year’ Award at the New Age Banking Summit 2025
-
Energy4 weeks agoRussian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
-
Banking & Finance1 month agoThe Future of the International Financial System to be discussed at SPIEF 2025
-
Retail1 month agoAll services are moving toward personalisation says Tatyana Kim, Founder of Wildberries and Head of RWB