Question

Copie em seu caderno retirando as frases que contem os MODAL VERBS.


Liquidations could be on the way

There would probably be more bankruptcies already if it weren't for the extreme volatility in oil prices. Clark said companies are having trouble drawing up restructuring plans because they don't know what the price of the commodity will be.

"Ironically, the lower price has slowed down the process," Clark said. "A number of companies may have teed up filings but they need to go back to the drawing board."

The dire outlook in the oil industry will make it very difficult for companies attempting to reorganize in Chapter 11 proceedings to get the required financing and support. Debtholders who would normally swap their debt for equity may not want that equity.

That means, unlike the 2014-2016 crash, some oil companies may not survive altogether.

"Chapter 11 requires financial sponsors to back you. You may see more Chapter 7 liquidations," said Reid Morrison, US energy leader at PwC.

The nightmare scenario could present lucrative buying opportunities for the industry's biggest players. That's because struggling oil companies, either in bankruptcy or before it, will be forced to sell off prime acreage -- at fire sale prices. Exxon and Chevron (CVX), the industry's supermajors, could be tempted to make acquisitions.

"Those with strong balance sheets will be able to take advantage of the situation," said Morrison.

However, he noted the supermajors will be "cautious about pulling the trigger" in the next six months because they must defend their coveted dividends first.

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Answer 1

Resposta:

Liquidations could be on the way

There would probably be more bankruptcies already if it weren't for the extreme volatility in oil prices.

 "A number of companies may have teed up filings but they need to go back to the drawing board."

Debtholders who would normally swap their debt for equity may not want that equity.

That means, unlike the 2014-2016 crash, some oil companies may not survive altogether.

You may see more Chapter 7 liquidations," said Reid Morrison, US energy leader at PwC.

The nightmare scenario could present lucrative buying opportunities for the industry's biggest players.

Exxon and Chevron (CVX), the industry's supermajors, could be tempted to make acquisitions.

However, he noted the supermajors will be "cautious about pulling the trigger" in the next six months because they must defend their coveted dividends first.

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Os verbos modais estão em negrito.