HighPoint Resources Hits Ch. 11 After Failed Merger Attempt

By Rick Archer (March 15, 2021, 10:53 AM EDT) -- Colorado-based oil and gas producer HighPoint Resources Corp. filed for Chapter 11 protection in Delaware bankruptcy court with a prepackaged plan to cut $625 million in debt by merging with Bonanza Creek Energy after an attempt to close the deal out of court failed in February.

Oil drilling derricks sit in a lot outside Greeley, Colorado. On Sunday, oil and gas producer HighPoint Resources filed for Chapter 11 bankruptcy with a plan to cut $625 million in debt. (Michael Ciaglo/Bloomberg via Getty Images) In bankruptcy filings Sunday, HighPoint said it had been unable to get enough of its noteholders on board...

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