UPDATE: Memorial Production Partners (MEMP) Said to Weigh Options, Including Bankruptcy

October 28, 2016 3:48 PM EDT

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(Updated - October 28, 2016 3:55 PM EDT)

Memorial Production Partners (Nasdaq: MEMP) said to weigh options, including bankruptcy, according to Bloomberg.

UPDATE - News comes as the company make look to restructure its current debt situations

MEMP may skip making a $25 million interest payment, which is due November 1st. The company is saddled with around $1.8 billion in debt.

MEMP will get a 30-day grace period after skipping the payment, giving the company time to negotiate with creditors.

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