The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
CHAPARRAL ENERGY INC COM CL A 15942R208 38,420 7,808,937 SH   SOLE   7,808,937 0 0
GENCO SHIPPING & TRADING LTD SHS Y2685T131 80,205 10,165,428 SH   SOLE   10,165,428 0 0
ISHARES TR 20 YR TR BD ETF 464287432 54,680 450,000 SH Call SOLE   450,000 0 0
OVERSEAS SHIPHOLDING GROUP I CL A NEW 69036R863 3,826 2,304,898 SH   SOLE   2,304,898 0 0
PACIFIC DRILLING SA LUXEMBOU COM L7257P205 257,974 19,323,914 SH   SOLE   19,323,914 0 0
PENN VA CORP NEW COM 70788V102 83,287 1,540,634 SH   SOLE   1,540,634 0 0
SEADRILL PARTNERS LLC COMUNIT REP LB Y7545W109 6,401 3,700,000 SH   SOLE   3,700,000 0 0
SILVERBOW RES INC COM 82836G102 105,824 4,476,462 SH   SOLE   4,476,462 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 91,221 365,000 SH Put SOLE   365,000 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 53,060 2,000,000 SH Call SOLE   2,000,000 0 0
TERRAFORM PWR INC COM CL A 88104R209 112,584 10,034,266 SH   SOLE   10,034,266 0 0