Linn Energy Files for Bankruptcy, SandRidge Misses Quarterly Filing

Reuters

HOUSTON, May 11 (Reuters) - Linn Energy filed for bankruptcy on Wednesday, and SandRidge Energy Inc said it could not file quarterly results in a timely manner, the latest sign of the turmoil a deep price crash has caused among small firms in the U.S. oil and gas sector.

Linn's filing for creditor protection brings to about 60 the number of U.S. oil and gas companies to go bankrupt since oil prices entered a slide in mid-2014.

SandRidge, once an investor favorite but now facing a hefty debt load with oil prices down by half, said it would not file first quarter results on time.

(Reporting By Houston Newsroom)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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