(Bloomberg) — Chaparral Energy Inc. filed for bankruptcy protection for the second time in four years, another financial reckoning for one of the many cash-starved shale drillers punished by sluggish oil prices.The company filed for Chapter 11 in U.S. Bankruptcy Court in Delaware. It listed estimated liabilities and assets both in the $500 million to $1 billion range.The Covid-19 pandemic has led to a surge in energy industry bankruptcies, as lockdowns strangle demand and prompt lenders to cut credit lines. So far in 2020, the tally has included California Resources Corp., the state’s largest crude producer, and shale gas driller …read more
Source:: Yahoo Finance
