UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

~~February~~March 823, 2016 (~~February~~March 222, 2016)

EMERALD OIL, INC.

(Exact name of registrant as specified in its charter)

Delaware		1-35097		77-0639000
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

200 Columbine Street, Suite 500
Denver, CO 80206

(Address of principal executive offices, including zip code)

(303) 595-5600

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.~~02.~~03 ~~Termination~~Bankruptcy ofor ~~Material Definitive Agreement~~Receivership.

On ~~January~~March 2922, 2016, ~~the~~Emerald Oil, ~~Amendment~~Inc. to (the ~~Forbearance~~“Company”) ~~Agreement~~and ~~dated~~certain ~~December~~of 18its subsidiaries, ~~2015~~including ~~with~~Emerald ~~regard~~WB, toLLC, ~~the~~Emerald ~~Amended and~~NWB, ~~Restated~~LLC, ~~Credit~~EOX Marketing, ~~Agreement~~LLC, ~~dated~~and asEmerald ~~of May 1~~DB, ~~2014~~LLC (collectively, the “~~Credit~~Filing ~~Agreement~~Subsidiaries” or and, together with the Company, the “~~Facility~~Debtors”), byfiled ~~and~~voluntary ~~among~~petitions ~~Emerald Oil, Inc.~~ (the “~~Company~~Bankruptcy Petitions”) ~~and~~ ~~Wells~~for reorganization ~~Fargo~~under ~~Bank,~~Chapter ~~N.A.,~~11 asof ~~administrative agent, and~~ the ~~lenders~~United ~~party~~States ~~thereto~~Bankruptcy ~~(collectively,~~Code (the “~~Lenders~~Bankruptcy Code”) ~~expired, and~~in the ~~Company~~United ~~was~~States ~~determined~~Bankruptcy Court tofor bethe inDistrict ~~default~~ of Delaware (the ~~Credit Agreement~~“Court”). AsThe aDebtors ~~result~~have offiled ~~this~~a ~~default,~~motion onwith ~~February~~the 2,Court ~~2016~~seeking ~~the Bank~~joint administration of ~~Nova~~their ~~Scotia~~Chapter ~~(“BNS”)~~11 ~~notified~~cases under the ~~Company~~caption ~~that~~In itre ~~had~~Emerald ~~designated~~Oil, ~~February 3~~Inc., ~~2016~~et asal, ~~the~~Case ~~early~~No. ~~termination date~~16-10704. ofThe ~~the~~Debtors ~~ISDA~~will ~~Master~~continue to ~~Agreement~~operate ~~(together~~their ~~with~~businesses ~~all~~as ~~schedules~~“debtors-in-possession” ~~and~~under ~~confirmations and amendments thereto,~~ the ~~“Agreement”) dated~~jurisdiction as of ~~June 20, 2014, by and between~~ the ~~Company~~Court and ~~BNS.~~in ~~Thereafter,~~accordance onwith ~~February 3, 2016, BNS terminated~~ the ~~Agreement and~~ ~~applied~~applicable ~~$17.5~~provisions ~~million~~ of ~~proceeds from~~ the ~~termination~~Bankruptcy toCode ~~amounts~~and ~~owing~~orders byof the ~~Company to BNS under the Credit Agreement~~Court.

AsItem a result of the payment of the Agreement termination proceeds to the Credit Agreement, as well as the proceeds from other transactions consummated by the Company, the Company has cured the borrowing base deficiency under the Facility, and the borrowing base under the Facility is currently $113 million, with approximately $111 million currently outstanding2.04 ~~However,~~Triggering ~~notwithstanding this~~Events ~~cure~~that ofAccelerate ~~the~~or ~~borrowing~~Increase ~~base~~a ~~deficiency,~~Direct ~~the~~Financial ~~Company~~Obligation ~~remains~~or inan ~~default~~Obligation ~~under~~Under ~~the~~an ~~Facility~~Off-Balance ~~based~~Sheet ~~on the continuing covenant defaults under the Credit Agreement, and there is no credit available under the Credit Facility~~Arrangement.

SoThe ~~long~~filing ~~as one or more events~~ of ~~default are continuing under~~ the ~~Credit Agreement, the Lenders may, subject to compliance with the terms and conditions of the Credit Agreement,~~Bankruptcy ~~exercise~~Petitions adescribed ~~number~~in ofItem 1.03 ~~remedies~~above ~~including~~constitutes ~~acceleration~~an ofevent ~~the debt and the sale~~ of ~~collateral.~~default ~~The~~that ~~exercise~~accelerated ~~of certain remedies may have a material adverse effect on~~ the ~~liquidity, financial condition and results of operations of the~~ Company~~, and, because the Company~~’s ~~liquidity~~obligations ~~position~~under the ~~continues~~following todebt ~~deteriorate,~~instruments (the ~~Company~~“Debt ~~may still become bankrupt or insolvent.~~Instruments”):

~~SIGNATURE~~· Second Amended and Restated Credit Agreement, dated as of May 1, 2014, by and among the Company, Wells Fargo Bank, N.A., as administrative agent, and the lenders party thereto;

~~Pursuant~~· to2.00% ~~the~~Senior ~~requirements of~~Notes ~~the~~due ~~Securities~~April ~~Exchange~~2019, ~~Act~~issued ofpursuant ~~1934,~~to the ~~Company~~Indenture, ~~has~~dated ~~duly~~as ~~caused~~of ~~this~~March ~~report~~24, on2019, ~~Form~~by ~~8-K~~and toamong bethe ~~signed~~Company, onU.S. ~~its~~Bank ~~behalf~~National byAssociation as trustee, and the ~~undersigned hereunto~~guarantors ~~duly~~party ~~authorized.~~thereto;

	EMERALD OIL, INC.
Date: February 8, 2016	By:	/s/ Ryan Smith
		Ryan Smith
		Chief Financial Officer

The Debt Instruments provide that as a result of the Bankruptcy Petitions the principal and interest due thereunder shall be immediately due and payable. Any efforts to enforce such payment obligations under the Debt Instruments are automatically stayed as a result of the Bankruptcy Petitions, and the creditors’ rights of enforcement in respect of the Debt Instruments are subject to the applicable provisions of the Bankruptcy Code.

ITEM 7.01.

Regulation FD Disclosure.

On March 23, 2016, the Company issued a press release announcing the filing of the Chapter 11 cases, as described above in Item 1.03. The press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K.

The information included in this Current Report on Form 8-K under Item 7.01 and Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of that Section, unless the registrant specifically states that the information is to be considered “filed” under the Exchange Act or incorporates it by reference into a filing under the Exchange Act or the Securities Act of 1933, as amended.

ITEM 9.01.

Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit		Description

99.1		March 23, 2016 Press Release.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

	EMERALD OIL, INC.


Date: March 23, 2016	By:	/s/ Ryan Smith
		Ryan Smith
		Chief Financial Officer

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