http://www.bloomberg.com/news/artic...prepare-bankruptcy-filing-as-soon-as-thursday After hours the oil and gas driller Energy XXI share price fell by ~45% to ~$0.30, but wild gyrations continue as I type this.
Yeah, it is going to be tough for all companies that are focused only on drilling. There is no good news about the price of oil, so much supply already dormant and as we´ve discussed before, Saudi Arabia is powerless to even begin to encourage anyone to halt production levels. There is just nothing in the next two years that makes it look like there will be any demand for drillers.
