Struggling oil company Red Mountain Resources Inc. is in negotiations with its lender after defaulting on its credit facility, according to a filing with the U.S. Securities and Exchange Commission. The company's troubles overlap with those of many other energy companies, which have financially struggled for months because of the volatile price of crude oil.

Dallas-based Red Mountain owns oil and natural gas properties in the Permian Basin in West Texas and Southeast New Mexico, the Gulf Coast and in Kansas. The business conducts hydraulic fracking to produce oil.

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