Eagle Ford producer Lonestar Resources filed for bankruptcy protection under Chapter 11 this week, becoming the latest casualty in the string of bankruptcies in the U.S. shale patch this year. Lonestar Resources filed for relief under Chapter 11 in the United States Bankruptcy Court for the Southern District of Texas, as a growing number of U.S. oil and gas producers – from small players to giants – are saddled with debt they cannot repay with oil prices so low. This week, Oasis Petroleum Inc also filed for a voluntary Chapter 11 process aimed at restructuring that is expected to reduce its debt by US$1.8 billion. Oasis Petroleum has enough liquidity to maintain operations and expects to emerge from the restructuring process in November 2020, subject to Court approval, the company said. Dozens of shale producers have already filed for bankruptcy protection this year, with Chapter 11 filings accelerating after […]