Oil company California Resources Corp. skipped an interest payment to lenders and could file for bankruptcy as soon as next week, people familiar with the matter said. The Los Angeles-based oil driller said Monday it has entered into an agreement with a majority of its senior lenders to wait until Sunday before they can declare a default. California Resources failed to make a $30 million payment to lenders last month.

Source: Wall Street Journal June 08, 2020 16:41 UTC