E&P and oilfield service (OFS) companies looking to refinance debt amid continued volatility and a global pandemic may find themselves facing another challenge.

“What we’re seeing today is that it’s not only very expensive, but it is actually very challenging to refinance this debt,” Arindam Das, group head of consulting for Westwood Global Energy Group. “As a consequence of that, we are likely to see a lot of debt restructuring and defaults in H2 2020.”

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