California’s Top Oil Driller to File for Bankruptcy

California Resources Corp. | Submar

California’s Top Oil Driller to File for Bankruptcy

California Resources Corp. filed for bankruptcy with a plan to hand ownership to lenders, kicking off what could turn into the next wave of collapses among oil drillers and the businesses that depend on them. Under a proposal the company negotiated with senior lenders as part of its bankruptcy planning, shareholders will be wiped out,

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