{"id":4188,"date":"2015-01-07T11:32:26","date_gmt":"2015-01-07T16:32:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4188"},"modified":"2015-01-07T11:32:26","modified_gmt":"2015-01-07T16:32:26","slug":"the-first-shale-casualty-wbh-energy-files-for-bankruptcy-many-more-coming","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4188","title":{"rendered":"The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming"},"content":{"rendered":"<h4 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-01-07\/first-shale-casualty-wbh-energy-files-bankruptcy-many-more-coming\" target=\"_blank\">The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming<\/a><\/h4>\n<p><em><strong>&#8220;There are too many ugly balance sheets,&#8221;<\/strong><\/em>\u00a0warns one energy industry analyst, adding simply that\u00a0<strong>&#8220;the group is not positioned for this downturn.&#8221;<\/strong>\u00a0While the mainstream media continues to chant the happy-clappy side of lower oil prices, spewing various &#8216;statistics&#8217; about how the down-side of low oil prices is &#8216;contained&#8217; and the huge colossal massive tax cut means &#8216;everything is awesome&#8217; for America, the data &#8211; and now actions &#8211; do not bear this out. Macro data has done nothing but disappoint and now, we have the first casualty of the shale oil leverage debacle\u00a0<a href=\"http:\/\/www.wsj.com\/articles\/deep-debt-keeps-oil-firms-pumping-1420594436?mod=WSJ_hpp_LEFTTopStories\">as WSJ reports,<\/a>\u00a0on Sunday,\u00a0<strong>a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money<\/strong>. There are many more to come&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/news\/2014-12-10\/here-are-americas-most-levered-energy-companies\">In December we illustrated the problem names<\/a>\u00a0(in the publicly traded markets) among the most-levered energy companies in America&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user5\/imageroot\/2014\/12\/most%20leveraged%20energy%20companies.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user5\/imageroot\/2014\/12\/most%20leveraged%20energy%20companies_0.jpg\" alt=\"\" width=\"600\" height=\"1052\" \/><\/a><\/p>\n<p>And now,<a href=\"http:\/\/www.wsj.com\/articles\/deep-debt-keeps-oil-firms-pumping-1420594436?mod=WSJ_hpp_LEFTTopStories\">\u00a0as The Wall Street Journal reports,\u00a0<\/a>the bankruptcies have begun as financing costs are not just prohibitive, there is no liquiidty available at any price for many&#8230;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming &#8220;There are too many ugly balance sheets,&#8221;\u00a0warns one energy industry analyst, adding simply that\u00a0&#8220;the group is not positioned for this downturn.&#8221;\u00a0While the mainstream media continues to chant the happy-clappy side of lower oil prices, spewing various &#8216;statistics&#8217; about how the down-side of low [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[1361,1775,723,846],"class_list":["post-4188","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bankruptcy","tag-oil-price-collapse","tag-shale-oil","tag-us-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4188"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4188\/revisions"}],"predecessor-version":[{"id":4189,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4188\/revisions\/4189"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}