“Iran hopes to attract high-tech investors when sanctions lift”
If oil stays cheap in 2016, a lot more U.S. and Canadian oil companies could go bankrupt, said Andy Flint, a partner at corporate law firm Thompson & Knight in Houston. Thirty-seven North American oil producers have filed for Chapter 11 bankruptcy protection this year, including 16 in Texas.
“They had good engineering. They didn’t necessarily build $40 oil into their analysis,” he said.