Some Bankrupt Oil and Gas Drillers Can't Give Their Assets Away - Bloomberg Business:
"Oil is in free fall and Terry Clark couldn’t be happier.
In mid-2014, when the crude price topped $100 a barrel, Clark made an offer to buy properties from Dune Energy Inc., a small driller with money trouble. Dune turned him down. A year later, as oil plunged to $60 a barrel, Dune filed for bankruptcy and Clark’s White Marlin Oil & Gas Co. picked up the assets at auction at a deep discount.
“What we offered versus what we got it for, it’s a great price,” Clark said. “We’re going to continue to play these bankruptcies. We’re participating in two more right now.”"
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