Matagorda Island Gas Operations LLC, a private oil and gas development company sanctioned by the U.S. for failing to comply with safety-disclosure rules put in place after the 2010 Gulf of Mexico oil spill, filed for bankruptcy protection, Bloomberg News reported yesterday. The Morgan City, La.-based company listed assets of as much as $50 million and debt of as much as $500 million in chapter 11 documents filed in court yesterday. The Bureau of Safety and Environmental Enforcement ordered Matagorda and four other companies to halt offshore oil and gas operations after they failed to give regulators an audit of safety plans required since the 2010 blowout by a BP Plc oil well and subsequent spill, according to a statement by the agency in November.
http://www.bloomberg.com/news/print/2014-09-03/matagorda-island-gas-ope…
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