Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Energy

Osage Exploration and Development Chapter 11 Petition Filed

Osage Exploration and Development filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Oklahoma, case number 16-10308. The Company, which is engaged in the exploration, production, development, acquisition and exploitation of crude oil and natural gas properties, is represented by Mark A. Craige of Crowe & Dunlevy. According to documents filed with the Court, "Debtor has been struggling due to the substantial drop in and sustained low crude oil and natural gas prices over the past months. Based on Debtor's current capital structure, liquidity constraints, and inability to raise new capital, it has become necessary for Debtor to seek chapter 11 protection in order to protect and preserve its going concern value and to facilitate a prompt sale of all of its assets for the benefit of all stakeholders."

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