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Delaware Permian E&P Exploring Restructuring/Bankruptcy
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Roesehill Resources today reported its full year 2019 and fourth quarter results and the company said "The Company is exploring strategic alternatives in support of its objectives to maximize value, position the Company for long-term growth and deleverage its balance sheet, including among other things, a financial restructuring or other deleveraging transaction"
As you might remember, on March 20, 2020, the company drew down the remaining balance on its revolver bringing the balance to $340 million and shoring up its cash position to $73 million.
At the time Shale Experts CEO Rons Dixon said "We expect the company to see a cut its borrowing base and as a result covenants compliant issues will arise"
The company has some 13,219 (97% operated) net acres under lease in the Delaware Basin…
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