Energy Recap: Introducing 2 New Segments On Bankruptcies And Rig Counts

| About: Linn Energy, (LINEQ)

Summary

Every other Friday, Seeking Alpha will provide a roundup of insightful opinion and analysis articles in the energy sector.

In this edition, we introduce two new segments - a list of bankruptcies in the energy sector and a recap of changes in the U.S. oil rig count.

If you'd like to contribute to the energy conversation on Seeking Alpha, you can leave a comment below or submit your own article.

Welcome to the latest edition of the SA Energy Recap, a new feature here on Seeking Alpha. Every other Friday, we highlight several interesting and insightful articles in the energy space.

This week, we're introducing two new segments in the Recap - an ongoing list of bankruptcies in the energy sector and a quick review of the changes in the U.S. oil rig count. Thanks to the readers who suggested these additions - hopefully they'll be of use to those of you following along.

Now, on to the articles...

A Few Energy Articles of Note

"Why U.S. Crude Production Is The Wrong Number To Watch" By Robert Boslego

"Main Street Capital - Assessing Oil And Gas Exposure" By Owen Worley

"Expanding U.S. Hydrocarbons: Rich Liquids And Crackers" By Jennifer Warren

"Goldman's Call For The 'End Of Cheap Oil' Was Likely Premature" By Michael Fitzsimmons

"Utah Oil Sands - Best Left Un-Mined" By Moshe Ben-Reuven

Energy Sector Bankruptcies

Here's a list of the most recent bankruptcy announcements in the energy sector:

  • Chaparral Energy, Inc. (private) - May 10
  • Linn Energy (LINE), LinnCo (LNCO) - May 11
  • Penn Virginia Corp. (PVA) -- May 12
  • Breitburn Energy Partners (BBEP) - May 16
  • Halcon Resources (NYSE:HK) - May 18

Feel free to add any that we might have missed in the comments section below. (Note, we originally had EXCO Resources (NYSE:XCO) on the list; in actuality, the company has only created a special committee to "evaluate and recommend strategic alternatives.")

Current U.S. Oil Rig Count

As per Baker Hughes, the number of active U.S. oil drilling rigs was unchanged this week, after falling for the past eight consecutive weeks.

Click to enlarge

Readers, now it's your turn to discuss what's been happening in this sector. Please share your thoughts on that, and any opinions on the new additions to the Energy Recap this week, in the comments below.

As always, we encourage you to submit your own article here, if you haven't already done so.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.