The End is NearLots of news releases over the past 2 months about XOP being in CCAA, with trading stopped. The only important line from the News is the line "The Company believes there is little prospect for a return to shareholders or bond holders."
They should bring Art back as CEO as he is the expert at driving companies to the ground. Last time when Oilexco went belly up, Art managed to come out smelling like roses by immediatly being made CEO of some little company and managed to get funding for drilling in the North Sea. When that didn't pan out he went after a "sure thing" exploration well in Liberia. Whe that came out a Duster he turned his attention to Nigeria. When that didn't pan out due to lack of financing, he went after an existing field in Wyoming. Almost made a go of it but the cost of the miscible flood brought us to the bancruptcy protection where we are today.
I doubt Arts' halo is shining too brightly for him to start anew again. Still, at least he made good money from the failures over the past couple of decades.