NasdaqGS:NFEOil and Gas
Why New Fortress Energy (NFE) Is Up 42.9% After Bankruptcy Risk Emerges Despite Winning Major LNG Deal
Earlier this month, New Fortress Energy Inc. announced that it had reached agreement with Puerto Rico's Third-Party Procurement Office and Public-Private Partnerships Authority for a 7-year LNG supply deal, subject to review by the Financial Oversight and Management Board of Puerto Rico.
Just days after this major contract development, the company disclosed disastrous Q2 results, signaled imminent debt covenant breaches, and confirmed a formal strategic review with bankruptcy described as...