Energy Recap: Rig Count Rises For 2nd Week In A Row

| About: SunEdison, Inc. (SUNEQ)

Summary

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

In this edition, we highlight articles on Earthstone Energy and Phillips 66 Partners, as well as ask for your take on what's happening in the energy sector.

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 Energy Recap. This week, SunEdison (OTCPK:SUNEQ) said that it agreed to "terms for a $1.3B debtor-in-possession operating loan," several share offerings in the energy space were reported, and there was more sabotage by The Niger Delta Avengers group on Nigeria's oil infrastructure.

Energy Articles of Note

"How The Natural Gas Glut Will End" By Robert Boslego

"Overlooked, Underfollowed And Undervalued Earthstone Energy Joins The Permian Basin Party" By Value Digger

"Phillips 66 Partners: The Flip-Side To 30% Distribution Growth" By Michael Fitzsimmons (Please note that a Pro subscription is required to read the full article.)

Energy Sector Bankruptcies for the Week Ended June 10, 2016

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

  1. Hercules Offshore (NASDAQ:HERO) filed for Chapter 11 bankruptcy protection on Monday, June 6.
  2. Seventy Seven Energy (NYSEMKT:SSE) filed for Chapter 11 bankruptcy on Tuesday, June 7.

Feel free to add any that we might have missed in the comments section below.

U.S. Oil Rig Count as of June 10, 2016

As per Baker Hughes, the number of active U.S. oil drilling rigs increased again this week.

Click to enlarge

Readers, now it's your turn to discuss what's been happening in this sector. Please share your thoughts in the comments below.

As always, we encourage you to submit your own article by clicking 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.