Oil and gas driller RAAM Global Energy Co. filed for bankruptcy protection, blaming natural gas prices that rapidly declined as executives dealt with an oil-field collapse in Texas in 2013 that damaged four wells, Dow Jones Daily Bankruptcy Review reported today. Lawyers who put RAAM Global into bankruptcy protection on Monday said that they are looking for buyers to take over the Houston-area company, which invested more than $1.5 billion in its oil and gas projects in recent decades. As of last month, the company projected that 8.57 billion barrels worth of oil and natural gas reserves are located in the underground pockets, located mostly in the Gulf of Mexico, where it can drill. Read more. (Subscription required.)
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