Because of the cheap money, even companies of dubious quality could refinance themselves cheaply. That takes revenge. After the oil price crash, the bond prices of over-indebted fracking companies collapse. Is this another symptom of the crisis or an opportunity?
—
Derrick in the American state of North Dakota.
—
After the price crash on the oil market, the first consequences are becoming apparent on the American bond markets. In the past few days, not only the shares of oil exploration and production companies have been massively damaged, but also the bonds of so-called frackers. These are companies that have increased American production to a record level in recent years by “plowing” well-known oil fields with the latest technology and lifting reserves that have remained in the ground.
–
