A rebound in oil prices that bottomed near $44 a barrel in March has provided some relief to stronger companies that have been able to compensate with cost cuts and more efficient operations. For many smaller, cash-strapped producers, current prices of almost $60 still aren’t enough to make ends meet compared to the $100-plus prices seen during the boom days. Those smaller companies may benefit from a reorganization in a chapter 11 Bankruptcy. A chapter 11 will give those companies relief and allow them to continue in business without having to pay current debt. A plan will be filed based on the companies financials and ability to pay back debt. Contact William (Bill) Vidrine to discuss your options.