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HighPoint Files for Bankruptcy, Set to Be Bought by Bonanza

Oil and gas fatalities and injuries

Photographer: RJ Sangosti/Denver Post/Getty Images

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HighPoint Resources Corp. filed for bankruptcy, setting in train a process that will result in the Denver-based shale oil producer being acquired by Bonanza Creek Energy Inc.

The driller filed a Chapter 11 petition in U.S. Bankruptcy Court in Delaware, indicating its estimated liabilities to be up to $1 billion.