Bankruptcies in the North American oil and gas industry slowed to a total of three in October, but more filings are likely before year’s end, according to the latest monthly Oil Patch Bankruptcy Monitor report published Tuesday by Haynes and Boone LLP.


“While the pace of bankruptcy filings for producers has slowed from the wave last summer, the current borrowing base season for oil and gas borrowers may put further pressure on some of the already financially stressed producers,” the law firm said. “Combined with the general lack of access to capital, additional filings are likely before 2020 comes to a close.”

The industry hit an unwelcome milestone in October, recording its 250th bankruptcy filing since Thanksgiving 2014, Haynes and Boone researchers said.

The law...