General News | Capital Markets | Bankruptcy Exit | Name Change
Emerald Oil Emerges from Bankruptcy with New Name
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Emerald Oil has emerged from bankruptcy with no debt.
The Company reduced its long-term debt by approximately $278 million. Emerald will focus on developing its assets in the Bakken shale and maximize the value of its leasehold.
The Company will operate under the new name "National Oil Production Company, LLC" and is majority owned by Crestline Investors and Fir Tree Partners.
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