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Rystad: US energy sector could face wave of bankruptcies

If oil prices stay depressed, about 73 US energy companies could seek Chapter 11 bankruptcy protection this year, followed by another 170 firms in 2021, Rystad Energy predicts. "If these smaller players go bankrupt and their production is shut down, a lot more cash would be required to restart production by a potential new operator that picks up the lease," said Rystad upstream analyst Joachim Milling Gregersen.

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