So I've been waiting and waiting for this news to come out. Due to higher oil prices, many U.S. Shale Oil companies are starting to refinance their debt from the last boom a few years ago.
My key question: ...
Will "refinancing debt" actually mean adding new debt, or actually paying off some of the old debt?
If "refinancing debt" for fracking means getting another shiny new credit card to make payments on old credit cards, then there will be one heckuva financial train wreck down