Rosehill Resources (ROSE) is planning on filing for Chapter 11 bankruptcy after entering into a restructuring support agreement with creditors. Rosehill's second-lien noteholders will end up with the majority of its new equity. Preferred shareholders will end up with a small percentage of the new equity, while common shareholders will see no recovery.
Rosehill appears to still have some potential challenges post-restructuring. It looks like it will likely end up with a higher than ideal amount of credit facility debt after exiting Chapter 11. As well, it is being asked to hedge the