How will the new OPEC deal impact distressed oil and gas outfits and their restructuring plans? Blackhill Partners’ CEO Steve Strom weighs in on the effect this surprise move will have on valuations for U.S. producers set to file for bankruptcy.  http://on.wsj.com/2h1UDk8

“You need a lot more of this to repair the cumulative impact of low oil prices, said Steve Strom, chief executive of investment bank Blackhill Partners.”

“The challenge in each case is going to be how close is one group of creditors or shareholders to starting to get a recovery?” Mr. Strom said.  “And, if you a have a 10% change in price assumptions is that enough?”

 

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