PetroQuest Skips Interest Payment, Could Consider Bankruptcy

Bloomberg posted an interesting article about a week ago. Here’s an excerpt: “PetroQuest Energy Inc. fell almost 9 percent in late trading after skipping an interest payment and saying it could face bankruptcy, joining energy companies whose flow of cash has been cut to a trickle by the industry’s prolonged slump. The oil and gas producer may consider new financing arrangements, “joint ventures, asset sales, exchange offers and a filing under Chapter 11 of the U.S. Bankruptcy Code,” PetroQuest said in a regulatory filing. The company invoked a 30-day grace period on a payment that was due Thursday on its 10 percent senior notes maturing in 2017, according to the filing.”

You can read the rest of the article here.

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