Oasis Petroleum Gets OK For $1.8B Debt Swap Ch. 11 Plan

By Rick Archer (November 10, 2020, 8:46 PM EST) -- Oil and gas driller Oasis Petroleum on Tuesday got approval from a Texas bankruptcy judge for its prepackaged $1.8 billion equity swap Chapter 11 plan, achieving the quick turnaround it had hoped for when it filed for bankruptcy a little over a month ago.

Following a brief telephone hearing, U.S. Bankruptcy Judge Marvin Isgur approved what Oasis' counsel said was now a fully consensual plan that had received the votes of nearly all of its creditors.

Texas-headquartered Oasis is an exploration and production company focused on crude oil and natural gas. Its development and production activities are concentrated in North Dakota...

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