Hercules Offshore is the Latest Victim of the Downturn in Oil and Gas

 Photo source: Rigzon

Photo source: Rigzon

With the continuing downward spiral in the price of oil, another service industry provider is in the process of filing for Chapter 11 bankruptcy. As noted, the 44% fall in oil prices have substantially impacted the company, which has led to a hit on both the service industry and drilling contractors.

Read more: Hercules Offshore in Deal with Debtors, to File Under Chapter 11

Posted on June 19, 2015 and filed under Oil and Gas, Louisiana.