Bankruptcy Filings In Energy Field: Bonanza Creek; Memorial Production Partners LP; Forbes Energy Service Ltd -- December 23, 2016

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