Crescent Resources will likely be able to exit bankruptcy in the near future. According to court reports, a bankruptcy judge approved Crescent Resources' reorganization plan. 

The company originally filed for Chapter 11 bankruptcy protection in June. The bankruptcy filing was meant to erase more than $1 billion in debt from the company's balance sheet. 

If your company has considered filing for Chapter 11 bankruptcy protection, contact the Austin Chapter 11 attorneys of Slater Kennon LLP, at 512-338-1100.