Re: Docket # 1147 – Extension of Plan Filing and Acceptance Dates
I can't think of any negatives regarding moving the date forward. The company probably re-evaluated the opposition and felt they were in a better place now. The company really needs to get out of BK in order to get business relationships in place and provide visibilty. Unfortunately the hedging opportunity was here and gone for this very short lived cycle. Unless the rig count crashes we are heading back to where they were when they filed. Imagine prices in April and May...Company admits they cannot service debt at the breakeven price.