We know everything about bankruptcy
24/11/2024
Sunday
24 November 
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
OASIS PETROLEUM COMPANY GOT INTO $ 2.76 BILLION DEBT AND FILED FOR BANKRUPTCY
The American shale oil company Oasis Petroleum filed a lawsuit, claiming its own insolvency.
It is reported that by means of this, the company expects to carry out a debt restructuring, which currently amounts to $ 2.76 billion.
In such cases, the US law allows the debtor to independently file a claim for bankruptcy and emerge from the procedure, albeit with some losses, but with a possibility to continue business activities.
The head of the company, in turn, announced the need for such decisive measures in connection with the reduction in prices of both raw materials and energy carriers.
Speaking about the company's future plans after the restructuring, the management assured that exploration and production activities would be continued. As for the pipeline company Oasis Midstream Partners, which belongs to Oasis Petroleum, it will not be affected by the restructuring procedure at all.
It should be noted that this is far from the first insolvency statement of an oil company.
13 similar claims were filed in court in the last two months of the summer alone, and according to the disappointing forecasts of analysts, 140 more oil and gas companies of the US may follow the similar path.
The reason for such massiveness is a fall in prices for black gold.
