BJ Services Files Chapter 11 Bankruptcy

BJ Services Files Chapter 11 Bankruptcy

BJ Services, LLC, (collectively with certain of its affiliates, “BJ Services” or the “Company”), a leading provider of hydraulic fracturing and cementing services to upstream oil and gas companies engaged in the exploration and production (E&P) of North American oil and natural gas resources, announced that it has voluntarily filed petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Court”).


In connection with the Chapter 11 process, the Company intends to sell its assets, and is in active discussions with bidders regarding both the cementing business and portions of the fracturing business. The Company believes a successful completion of these sales would reduce the number of jobs impacted by this process. [Read more…]


Source / More information : BJ Services


Report by: OGP/Segun Cole , Please email us your industry related news for publication info@OilAndGasPress.com
Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook

Oil and Gas News Straight from the Source


Disclaimer
Most News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. OilAndGasPress welcomes all viewpoints. Should you wish to provide a different perspective on the above article, please email us info@OilAndGasPress.com

Information posted is accurate at the time of posting, but may be superseded by subsequent press releases

#FOLLOW US ON INSTAGRAM