Two More US Energy Companies Go Bankrupt: Breitburn, Sandridge File Chapter 11

by Tyler Durden
ZeroHedge.com
05/16/2016

Just days after the latest two shale casualties filed for bankruptcy protection when both Linn Energy and Penn Virginia announced prepackaged Chapter 11, moments ago Sandridge announced it too was entering bankruptcy court when it filed a voluntarily petition under Chapter 11 in U.S. Bankruptcy Court for Southern District of Texas to consummate a pre-arranged reorganization. This follows just hours after Breitburn Energy Partners announced it had filed Chapter 11 as it hopes to negotiate a restructuring of its balance sheet in court, continuing talks with creditors that began a month ago, CEO Hal Washburn said in a release.

The Rest…HERE

This entry was posted on Monday, May 16th, 2016 at 10:49 am and is filed under Economics, Energy, Government Evil, New World Order. You can follow any responses to this entry through the RSS 2.0 feed.