Colorado Heavyweight Extraction Files for Chapter 11 As Covid, Low Prices Continue to Ravage Lower 48

摘要

Denver-based Extraction Oil & Gas Inc. announced Sunday it has fled for Chapter 11 bankruptcy protection in the District of Delaware, citing the impacts of Covid-19 and low commodity prices on its business. Extraction, which operates exclu- sively in the Denver-Julesburg (DJ) Basin, said in May that it had engaged strategic advisers because of concerns about meeting debt commitments, and that it had suspended drilling and completions activity in the DJ.