Houston-Based Parker Drilling Company Files Pre-Negotiated Bankruptcy

On December 12, 2018, Parker Drilling Company and its subsidiaries (“Debtors”), oilfield service companies headquartered in Houston, filed pre-negotiated chapter 11 cases in the United Stated Bankruptcy Court for the Southern District of Texas.  The Honorable Marvin Isgur is presiding over the cases. The Companies operate in two lines of businesses: (a) drilling services (i.e., oil, natural […]

Read More

Distress in the Oil & Gas Industry (Part 1)

With oil prices having fallen more than 50% from June 2014 to January 2015, most pundits expect more companies in the oil & gas (O&G) industry will face significant financial distress in 2015, forcing many to either consolidate or file for bankruptcy.  Already this year several large oil and gas companies, like WBH Energy L.P., BPZ Resources, Dune Energy, Inc., Quicksilver Resources, Inc., […]

Read More