|Bid||0.0000 x 1400|
|Ask||0.0000 x 3100|
|Day's Range||0.2705 - 0.3180|
|52 Week Range||0.0188 - 1.8400|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 30, 2020 - Aug. 03, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.65|
Extraction Oil & Gas (NASDAQ: XOG) has filed for Chapter 11 bankruptcy. Extraction Oil & Gas has already entered into a restructuring support agreement with several of its unsecured noteholders. The company hopes to use the chapter 11 process to complete a comprehensive restructuring that will include other debtholders so that it can quickly exit bankruptcy in a stronger financial position.
Extraction Oil & Gas, Inc. (XOG) (together with its subsidiaries, “Extraction” or the “Company”) announced today that the Company has voluntarily filed for petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Court”). The Company has obtained a committed $125 million debtor-in-possession financing facility (the “DIP Facility”), which contemplates $50 million in new money, up to $15 million of which will become immediately available upon Bankruptcy Court’s order, and a “roll up” of $75 million of revolving loans under the Company’s existing revolving credit agreement. The DIP Facility is underwritten by Wells Fargo Bank, National Association and the $50 million in new money is financed by certain lenders under the Company’s existing revolving credit agreement.
Investors need to pay close attention to Extraction Oil & Gas (XOG) stock based on the movements in the options market lately.