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Rosehill resources, another US shale oil company, filed for bankruptcy

via:CnBeta     time:2020/7/27 11:36:06     readed:219

Rosehill resources filed for bankruptcy protection on Sunday local time as the collapse of oil prices forced the shale oil explorer in the Permian Basin to seek to restructure its debt, Beijing time reported on the 27th.Rose Hill resources company mainly conducts oil drilling in the Delaware basin on the west side of the Permian Basin.

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The company filed a bankruptcy petition with the federal bankruptcy court for the Southern District of Texas under Chapter 11 of the U.S. bankruptcy code.

In the past few years, as oil prices have rebounded, a large number of us shale companies have been borrowing to raise funds to expand production, making them vulnerable to this year's historic collapse in crude oil. At the end of June this year, Chesapeake energy, the pioneer of shale oil and gas in the United States, filed for bankruptcy protection.

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