Post by
noble13 on Jan 24, 2014 5:19pm
If they couldn't make the Interest Payment ...
If for some reason they couldn't make the interest payment due today, that could have caused the halt, precipitating some negative consequences.
Making the payment wouldn't even require a news release, but defaulting is a different matter. This seems a bit more likely than a buyout.
Comment by
Fullblast on Jan 24, 2014 5:22pm
Noble, they got the cash to make the payment.
Comment by
doggonemad on Jan 24, 2014 5:27pm
See I am not to keen on your interpretation. The last thing a bank wants to do is get stuck with 27 rigs in South America. You try to work with the company whichever way possible to continue the relationship (extend the terms, etc). Also, Walter and Don Wright have deep pockets themselve. They also have access to deep pockets.