The posts are appreciated. Nice lessons/opinions. It should be a given though that no Bankruptcy is needed until next April for protection (unless the credit line they have forces immediate due for over credit line if it's lowered), right?
I don't know what the advisors will come up with, but they still must drill leases (they can't get to extend on the cheap while oil is down) in order to keep them (in newer zones like Eagleford, probably not East Texas except some with separate deeper leases). They cannot just pay creditors.
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