Oil & Gas

Weatherford files for bankruptcy protection

The oilfield services company Weatherford International filed for Chapter 11 bankruptcy protection Monday, after struggling to assimilate the companies it bought during a quest for growth, taking on too much debt and fighting to recover from falling oil prices in 2014 that hammered the energy industry.

Other News

Magnum Hunter files for bankruptcy

A US oil and gas producer has filed for Chapter 11 bankruptcy protection as the low oil price continues. Magnum Hunter said it expects to emerge from bankruptcy in April next year.

Market info

Hercules Offshore to file for bankruptcy in weeks

Hercules Offshore said it plans to file for creditor protection in the coming weeks in a bid to end the year with a restructured balance sheet. The company has been struggling for a number of months because of an oversupplied rig markets and slumping oil prices that have forced producers to reduce spending.