Default Cycle Now In Full Swing As Goodrich Petroleum Is Latest To File Chapter 11

Friday, April 15, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
04/15/2016

This morning another troubled energy producer, Goodrich Petroleum announced a prepackaged Chapter filing meant to implement a financial reorganization after struggling to restructure its debt amid declining energy prices. This follows the filing of Energy XXI just 24 hours ago. Since the start of 2015, about 50 oil and gas producers have gone bankrupt, owing more than $17 billion, according to law firm Haynes & Boone LLP.

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