Investor pressure for financial discipline could be leaving some E&P companies with nowhere to go but back into bankruptcy.
Company has $255 Million in committed financing and expects to continue operations.
Vanguard Natural Resources filed for Chapter 11 protection on April 1, marking the second time the Houston-based E&P has entered bankruptcy since the 2014 oil crash.
The bankruptcy poses a threat to California's climate change ambitions by putting in limbo dozens of large solar, wind, and other clean energy projects PG&E has contracted with other companies.
Delek Drilling is considering listing its holdings in the Leviathan natural gas field off Israel's Mediterranean coast on the London Stock Exchange as part of a corporate restructuring.
PetroQuest Energy completed its Chapter 11 reorganization and emerged from bankruptcy with nearly $300 million of its debt cleared.
Brazil's incoming far-right government on Nov. 19 tapped a University of Chicago-trained economist with experience in the oil sector to be the chief executive of state-controlled Petroleo Brasileiro SA, amid a debate over privatization of the company's assets.