You'd be better off donating to a charity of your choice. At least you'll get a tax credit. Enjoyed riding OSG to its death, don't even have heart to pump TA fools here. This company is toast. KWK going bk, leases will be sold for pennies.
KWK's Barnett holdings are quite valuable, and I suspect they will monetize them eventually. They have already said they plan to JV half of them. I think the other half will follow within a year or two.
With that being said, the equity will have real issues. The divestiture of the Barnett will help KWK pay down a large portion of their debt, but the remaining assets are more developmental in nature and will require a lot of cash.
I think they will end up divesting yet another asset, to pour that cash into developing their remaining assets...but again, bankruptcy seems far fetched in this situation, but no doubt, KWK is a poorly managed E&P with a need for strong management. The equity is getting so low, that any positive news might result in a bounce. Otherwise, it becomes a cheap call option on future rising gas prices.