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Oasis Petroleum Files For Bankruptcy; Stock Sinks 14%

by finance.yahoo.com posted 5months ago 21 views
Shares of Oasis Petroleum are down another 14% in Thursday's pre-market trading after plunging 31.6% yesterday, as the company filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. As part of the the bankruptcy proceedings, Oasis is working on a plan with creditors to reduce its debt by $1.8 billion and strengthen its balance sheet.

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