Oil & Gas drilling companies are going through a tough time, and it will only get worse from here until end of this year before it gets better mid 2021. Here is a list of O&G drilling companies which are either under bankruptcy or about to:
Transocean (Has a timebomb of $8.1 billion net debt and facing contracts cancelation)
Seadrill (Delisted from NYSE, currently traded as a penny stock, $7.5 billion in debt, continued to lose money after emerging from bankruptcy in 2018)
Noble Drilling ($3.9 billion debt, engaging restructuring advisors, and there is a high possibility the company will file for bankruptcy)
Borr Drilling ($1.8 billion in debt, facing liquidity crisis, received delisting warning from NYSE as its stock price trading below $1/share, many of its rigs received early termination notices, and the rest are idle).
Diamond Offshore (Filed for Chapter 11 bankruptcy protection in April 2020, delisted from the NYSE)
Valaris plc ($6.5 billion in debt, started talks with creditors to discuss terms for a possible bankruptcy filing)
Maersk Drilling (Received a couple for drilling contract termination notices over the past few months)
