Junk Bond Carnage

Comments (2)

  1. John says:

    Tim, EXXI is not in the shale oil business.


    Tim Maverick Reply:

    You’re right – it is not in the shale oil business and we did not say so. However, their growth in the shallow offshore oil and gas fields on the Gulf Coast – along with some onshore fields – was, in part, funded by junk bonds. Therefore, the argument about sliding oil prices hitting their junk bonds is valid.
    -Tim Maverick


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