The independent said its outstanding borrowings totalled $457 million and letters of credit $18.3 million as of 13 April.
Accordingly it faces a "borrowing base deficiency" of $175.3 million.
The company has three options to address the gap: Repay the balance within 10 days, add new collateral to make up the difference or implement a six-month payment installment plan.
The company has $360 million cash on hand as of 13 April, it said.
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