Denbury Resources Inc. plans to hand ownership over to creditors as part of a bankruptcy strategy that would eliminate $2.1 billion in bond debt.
The oil-and-gas company filed for chapter 11 protection Thursday in U.S. Bankruptcy Court in Houston. The proposed restructuring includes giving second-lien bondholders and convertible noteholders nearly all of the equity in the reorganized business. Denbury had warned this week that a bankruptcy filing was likely.
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August 01, 2020 at 01:57AM
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Denbury Resources Files for Bankruptcy, Handing Control to Creditors - Wall Street Journal
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