Venoco’s case posture is a second Chapter 11 filing built around liquidity exhaustion, regulatory and operating constraints on its California oil-and-gas assets, and unresolved surety and abandonment-cost exposure, with no plan, sale, or postpetition financing path supplied in the current context pack. The debtor filed its voluntary petition on April 17, 2017, in Delaware, less than a year after a prior restructuring that had eliminated more than $1 billion of funded debt, but left the reorganized company exposed to asset retirement obligations, stranded production, and declining cash flow through the Chapter 11 Voluntary PetitionDkt. 1.