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Tag: Chapter

Fracking Firm Oasis Pete Shares Slump After Chapter 11 Filing

September 30, 2020
| No Comments
| business

Oasis Petroleum  (OAS) – Get Report shares slumped after the oil-and-gas fracking-services provider said it filed under Chapter 11 of U.S. bankruptcy law.

The stock recently traded at 21.67 cents, down 49%. It has lost 93% of its value this year.

“Due to historically low global energy demand and commodity prices, we determined that it is best for Oasis Petroleum to take decisive action to strengthen our liquidity and overcome the headwinds now challenging both our company and industry,” the Houston company’s chief executive, Thomas Nusz, said in a statement.

The company said it filed the Chapter 11 petition in U.S. Bankruptcy Court for the Southern District of Texas.

Oasis has entered a restructuring-support agreement with substantially all its lenders on its revolving-credit facility and holders of 52% of the face amount of its bonds regarding a comprehensive prepackaged restructuring, Oasis said in a statement.

Its lenders have

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My Personal Chapter 13 Bankruptcy Story

May 4, 2020
| No Comments
| personal

I filed Chapter 13 bankruptcy a few months ago. I have been documenting the experience to share with the people who will find themselves in need of this information in the next few years. It’s not a topic for casual conversation for most people, and the web is rife with e-books, courses, services and other junk.

I’m not an attorney, and I won’t offer any advice, and don’t intend this narrative to persuade you to take any particular action or opinion. This is just my experience, and of course my own particular perspective will shade it.

The story begins in 2005, when a business failure coincided with family illness and other non-financial problems. We struggled to cover our bills by selling personal possessions – furniture, TVs, a timeshare, tools, sporting goods and more. Finally, in early 2006, my husband found a job. By then we were more than 6 months … Read More

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