Extraction Oil & Gas Files For Bankruptcy - Quick Facts

(RTTNews) - Extraction Oil & Gas Inc. (XOG) said that it has voluntarily filed for petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

The company said it has obtained a committed $125 million debtor-in-possession financing facility, which contemplates $50 million in new money, up to $15 million of which will become immediately available upon Bankruptcy Court's order, and a "roll up" of $75 million of revolving loans under the Company's existing revolving credit agreement.

The company has entered into a restructuring support agreement with certain of its unsecured noteholders.