Some 150 oil firms may file for bankruptcy as oversupply pressures prices

TOKYO: About 150 oil and gas companies tracked by energy consultant IHS Inc may go bust as a supply glut pressures prices and punishes revenues.

The number of companies at risk was more than twice the 60 producers that have already filed for bankruptcy, Bob Fryklund, chief upstream analyst at IHS, said in an interview. A further shake out would help stimulate deals that have been on hold because buyers and sellers had disagreed on asset values, he said.