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

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