About two dozen oil and gas companies whose debt Moody's rates toward the bottom of its junk bond scale broadly fit that description

'Zombies' appear in U.S. oilfields as crude plumbs new lows

By News on the Net Reuters—— Bio and Archives--December 10, 2015

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Drained by a 17-month crude rout, some U.S. shale oil companies are merely hanging on for life as oil prices lurch further away from levels that allow them to profitably drill new wells and bring in enough cash to keep them in business.

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