Emerald Oil Files for Chapter 11 Bankruptcy Protection


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)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
CFO/ Senior Financial Manager
Expertise: Accounting|Financial Analyst
Location: Carrizo Springs, TX
Sr. Accounting Specialist- Revenue, Severance Tax
Expertise: Accounting
Location: Houston, TX
Sr. Accountant / Accounting Specialist, Revenue Accounting
Expertise: Accounting
Location: Houston, TX
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours