Three more Oil and Gas companies may head to bankruptcy soon (WSJ)

Midstates Petroleum Co. (ticker MPO)
Linn Energy LLC, (ticker LINE) and
SandRidge Energy Inc. (ticker SDOC)

Highlights:
Midstates Petroleum Co., Linn Energy LLC and SandRidge Energy Inc. in recent weeks drew down the full balance of their revolving credit lines, they said, collectively borrowing more than $1.5 billion to build up cash cushions as the oil slump heads into its second year.

Other producers also are weighing such a move, said bankers and lawyers who advise energy companies. Fully drawing down on a revolving loan can signal a company is building up its cash reserves ahead of a bankruptcy filing or that it is worried lenders may at some point cut off access to credit.

Source

http://www.wsj.com/articles/new-lender-worry-oil-firms-max-out-credit-lines-1455236012

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