Resources

For the second time in four years, Seadrill Limited is bankrupt. The company is the latest in a series of offshore rig firms to seek court protection from creditors following spending cuts by the energy sector in wake of the COVID-19 pandemic.

A popular technology solutions provider to the energy sector, Houston-based McDermott International, Inc. has met Chapter 11 bankruptcy - a fate which wouldn't have surprised vigilant CreditRiskMonitor subscribers.

Chemical products manufacturer Venator Materials PLC is facing major headwinds in low product demand and high material and energy costs. Could the once-powerful British company be nearing an administration filing?

Oil and gas geosurveying company Ion Geophysical Corporation defaulted on its debt obligations earlier this year and announced forbearance and an amendment extension. The Houston-based company is the latest to fall during a post-COVID-19 energy crisis.

German-based manufacturer SGL Carbon SE provides carbon fiber materials to various end markets of automotive, wind energy, and aerospace. Despite customers steadily recovering, the company continues to struggle with thin margins and high leverage.

California Resources Corporation could not stave off bankruptcy in 2020, hit simultaneously by a price war in oil & gas and the worldwide coronavirus pandemic.

Although crude oil prices snapped back in recent months, Denver-based Highpoint Resources filed bankruptcy not long after the publication of our High Risk Report.

CreditRiskMonitor announces a new partnership with HighRadius, a Fintech enterprise Software-as-a-Service (SaaS) company which leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes.

CreditRiskMonitor today announced that its Board of Directors has appointed Michael Flum, the Company’s President and Chief Operating Officer, as CreditRiskMonitor’s next Chief Executive Officer.