Shares of Magnum Hunter Resources (MHRCQ) plummeted 51% on December 15th after news broke that the company was entering Chapter 11 bankruptcy proceedings. To anybody who has been following the business for some time, this should come as no surprise. As energy prices took a dive late last year and earlier this year, shares of the entity dropped, causing its market cap to fall from a 52-week high of $986.4 million to just $5.5 million as of the time of this writing. In this piece, I will dig in a bit to figure out what went wrong and say whether or not investors should consider investing in it once it exits bankruptcy.