Reuters is reporting.
Denver-based
Bonanza Creek, with oil and natural gas assets in Colorado and
Arkansas, said it would file for bankruptcy on or before Jan. 5 with a
plan to eliminate $850 million in debt and provide $200 million in new
equity.
The
company said it expects to exit bankruptcy in the first quarter of
2017. Bonanza Creek's shares slid 55 percent to $0.88 in morning trade.
Some previous posts on Bonanza Creek:
- Niobrara (DJ Basin), original post on February 20, 2010
- finances public education in Weld County , August 3, 2012
- analyst day, April 12, 2013
- update by Mike Filloon, April 16, 2013
- mentioned by Goldman Sachs, September 24, 2013
- Mike Filloon's update on Bonanza Creek, March 11, 2014
No comments:
Post a Comment