I don't actually agree with that article's central argument;...

I don't actually agree with that article's central argument; that kicking the can down the road will delay the oil market correction. I think you need to separate the financial machinations of companies and banks from the timing and volume of oil investment, which will continue to fall regardless of whether banks are lenient or not. The rolling over of debt will have a marginal effect on investment, except for the fact that some half-drilled holes might actually be completed instead of abandoned. Put differently, had the debt rollovers been harsher, the impact would have been minimal as well. Even the wells of bankrupt firms will continue to pump at the behest of creditors. Its all about the timing and volume of new investment.
Sorry, could have be a little more succinct.