Credit: REUTERS/Lucy NicholsonJuly 15 (Reuters) - California Resources Corp CRC.N filed for Chapter 11 bankruptcy protection on Wednesday after defaulting on certain interest payments following a slump in oil prices over the past few months.
The oil and gas producer reached an agreement for $1.1 billion debtor-in-possession financing package, which also refinances the company's current revolving loan facility.
(Reporting by Arunima Kumar in Bengaluru; Editing by Sherry Jacob-Phillips)
((Arunima.Kumar@thomsonreuters.com))
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