The company's debt is not due till late 2017 and 2018, and the convenant restrictions are pretty light here. ABL is not the type of facility that wil bankrupt NES. IMHO, there is no bankruptcy coming soon. Possibly a bankruptcy in late 2017, if oil doesn't rebound a bit by then. But what if oil rebounds by then? Personally, I see a 50% move in this stock very soon, as shorts have had a field day, and while the outlook is moribund, it's not a $0 situation just yet.
The ABL facility won't bankrupt NES. The banks will work something out with the company. Plus the debt is due in late 2017, and the other bonds held by investors are due in 2018. NES has plenty of time to hope for some turnaround. There is no reason for bankruptcy any time soon. Selling here is foolish. Oil has bottomed.