March 9 brought one of the worst days in history for the stock market as oil and gas prices fell due to oil-producing countries failing to strike a deal. LPHS’s partner Michael K. Hurst told Hart Energy.com he expects several companies to file for bankruptcy, go through litigation or merge.
“I would expect to see quite a bit of merger activity,” Hurst said. “I think you’ll see some of the bigger companies that are better capitalized and better able to financially weather the storms swallowing up some of the smaller, less-capitalized companies.”
Read all of Michael’s quotes in the article here.