Can STO survive, page-460

Bloomberg today:

"Bankruptcies are accelerating. Magnum Hunter Resources Corp., Swift Energy Co. and New Gulf Resources filed in December. With more liquidations hitting the market, bargain hunters may not be willing to pay top dollar when there are so many deals to be found."
The next test will be the auction of Quicksilver Resources Inc.’s properties, scheduled for Wednesday. The shale driller declared bankruptcy in March with more than $2 billion in debt.
“So much of the frenzy in shale in the past few years was a result of the money pouring out of Wall Street,” said Clark of White Marlin. “It was as much a Wall Street play as it was an oil-and-gas play. It was putting money to work. Companies took on all that risk and now we see the result.”