It honestly feels pretty amicable. The lenders are working with the company ("The company has entered into a restructuring support agreement, which has the ful

It honestly feels pretty amicable. The lenders are working with the company ("The company has entered into a restructuring support agreement, which has the full backing of lenders to its main revolving credit facility"), and the company is reorganizing, clearing some debt, but staying operational. Which is pretty great for the US all-told. The US doesn't have to pump a barrel of shale oil to keep Saudi Arabia, Venezuela, Russia, and other petty despot oil states on the defensive, to stay independent of their whims. As long as the US has the ABILITY to spin up pumping once oil hits $50, who cares whether we are actually doing it? So overall, seems like fine news to me. Some banks are taking a haircut (better them than more taxpayer/bailout money). The infrastructure and organization sticks around. America stays independent of petty oil tyranny. Good news for America all around. This is what bankruptcy, done right, is for!