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TuMaRu

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TuMaRu

Re: Y money post# 16

Friday, 06/12/2020 1:11:42 PM

Friday, June 12, 2020 1:11:42 PM

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Both the previous posters need to be careful with XOG as a Ch. 11 seems to be imminent ... for 2 reasons. XOG failed to make the May 15th interest payment due on its 2026 bonds, and second, they just paid out a hefty $6.7 million to 16 top execs, per Bloomberg news yesterday.


Business
Extraction Gives Executives Bonuses Ahead of Possible Default
By Kevin Crowley
June 11, 2020, 4:57 PM CDT

Colorado-based driller to pay $6.7 million to 16 top employees
Extraction failed to make interest payment on bond last month

https://webcache.googleusercontent.com/search?q=cache:M-1YwN6yIPEJ:https://www.bloomberg.com/news/articles/2020-06-11/extraction-gives-executives-bonuses-ahead-of-possible-default+&cd=4&hl=en&ct=clnk&gl=us
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