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Re: gdog post# 185

Sunday, 03/15/2015 11:40:34 PM

Sunday, March 15, 2015 11:40:34 PM

Post# of 677
WSJ article from day before 1/6 said

....
While no energy company has defaulted on its bonds or other debt, CreditSights Inc. has identified about 25 at risk, because of small asset bases, high debt and low cash flow.

The list is headed by Sabine Oil & Gas LLC and Forest Oil Corp.—which merged last month into Sabine Oil & Gas Corp.—and closely held Venoco Inc., which focuses on California. None responded to requests for comment.

Quicksilver Resources Inc. would also be on the list except that it was already trying to restructure its debt out of court, said Brian Gibbons, the research firm’s senior oil and gas analyst. Moody’s downgraded Quicksilver deeper into junk status in September, noting the company had been failing at its attempts to sell assets in order to help it refinance and cut outstanding debt. Quicksilver didn’t reply to a message seeking comment....
http://www.wsj.com/articles/deep-debt-keeps-oil-firms-pumping-1420594436

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