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Fieldwood Energy Will File for Bankruptcy Again; Chapter 22
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After warning of the possibility in mid-May 2020, Fieldwood Energy LLC will file for Chapter 22 bankruptcy in the coming days, according to a report by the Wall Street Journal.
This will be the company's second bankruptcy filing in just over two years (Fieldwood first bankruptcy filing occurred in February 2018).
According to the report, Fieldwood is hoping to secure a DIP financing from lenders amounting to approximately $100 million. As previously reported, the company tapped Weil Gotshal & Manges LLP and Alix Partners LLP to aid in restructuring its debt load of ~$1.8 billion.
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