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FILE PHOTO: A drilling rig on a lease owned by Oasis Petroleum performs logging operations in the Permian Basin near Wink, Texas U.S. August 22, 2018. REUTERS/Nick Oxford

(Reuters) – Oasis Petroleum Inc OAS.O filed for Chapter 11 bankruptcy protection on Wednesday, the latest U.S. shale producer to seek court-aided restructuring as the energy industry reels from an unprecedented crash in oil prices caused by the COVID-19 pandemic.

The company listed assets and liabilities in the range of $1 billion to $10 billion, according to a court filing.

Oasis said it secured $450 million in debtor-in-possession financing and expects to cut debt by $1.8 billion through the restructuring. It had long-term debt of $2.76 billion with just $77.4 million in cash and cash equivalents as of June 30.

Lockdowns to stem the spread of the virus decimated travel and the demand for fuel, bringing oil drilling to a halt and

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