Goldman Sachs Sees Opportunity In The Shale Crisis

Despite years of burning through cash, and the deep sense of anxiety within the shale industry itself, Goldman Sachs says the current down market represents a buying opportunity. Through August of this year, more than 190 shale companies have declared bankruptcy since 2015, according to Haynes and Boone, LLP. In fact, the rate of bankruptcies has ticked up this year as low prices and restricted access to capital makes it increasingly difficult for indebted shale companies to roll over their obligations. But a mountain of debt looms just over the…