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Friday, December 23, 2016

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:

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