Emerald Oil Files for Chapter 11 Bankruptcy Protection



Reuters

March 22 (Reuters) - Emerald Oil Inc filed for Chapter 11 bankruptcy protection on Tuesday, a month after the oil explorer and producer warned that it could go bankrupt as it remained in default with creditors.

The Denver, Colorado-based company joins a string of energy-related firms to seek court protection from creditors after oil prices plummeted since mid-2014.

Emerald listed assets in the range of $10 million to $50 million, and liabilities of between $100 million and $500 million.

The case is in U.S. Bankruptcy Court, District of Delaware, Case No: 16-10704.

(Reporting by Sangameswaran S in Bengaluru; Editing by Gopakumar Warrier)



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