Energy bonds took a hit from fears low oil prices would spur a surge in defaults, but most issuers should stay resilient, Goldman Sachs said.
"Sector fundamentals will no doubt deteriorate sharply as a result of the 'New Oil Order' that has been ushered in by the emergence of shale oil technology," Goldman said in a note Thursday. But it added, "High-yield exploration and production [companies] will prove surprisingly resilient in their ability to weather low oil prices without large-scale defaults."
Read More Will lower oil prices deck Treasurys?
Concerns about energy-sector debt have sent widened their yield spreads. Investment grade, high-yield and emerging market energy sector corporate bond yields are trading around 27-150 basis points wider compared with their levels in June of last year, Goldman noted. Bond yields move inversely to their prices.