Economic Rescues Have Unleashed ‘Zombie Companies’

In 2019, a dozen years after it began exploring shale formations in Montana, North Dakota and West Texas, Oasis reported $154 million in operating income- well short of the $176 million it owed in interest on its debt. On Wall Street, the Houston- based company's shares, which traded above $56 in 2014, have spent most of this year hovering around $1.