Producers of oil and gas from once hard-to-tap shale deposits are now facing the payback of the energy revolution they wrought: ultra-low prices forcing them out of business.
This year is expected to be a make-or-break year for U.S. shale producers, after the 70% plunge in crude prices, with many at risk of failure.
Dozens of shale drillers sought bankruptcy protection in the last year as low oil prices made their operations uncompetitive and they could not pay debts.
