Major shale company Emerald Oil filed for bankruptcy

The oil company Emerald Oil, which has worked in the field Bakken, which is in the state of North Dakota, announced its bankruptcy. It turns out that regular, not the smallest slate company, this week joined the top ten "dead" companies. And now the wait is worth it as everything that belongs to Emerald Oil, will be started up from a hammer for a penny.

Chief Financial Officer Ryan Smith decided to comment on the situation that has developed in the shale deposits of America. According to him, the debtor company fell victim to lower hydrocarbon prices. Many oil companies have reduced their working staff to 40 per cent, in order to be able to refinance their debts to banks. But the financial capitals still access blocked for shale companies. In addition, all of a sudden, has been reduced value of all proven deposits of shale oil and gas.

According to JPMorgan Chase & Co, in the last couple of weeks 48 slate companies announced their bankruptcy.

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