Energy & Exploration Partners Inc. filed for chapter 11 protection on Monday, following several other oil and gas drillers into bankruptcy, Bloomberg News reported yesterday. The company’s bankruptcy petition listed debt of $1 billion to $10 billion and assets of $500 million to $1 billion. The Fort Worth, Texas oil and gas driller’s federal bankruptcy filings convert an involuntary bankruptcy petition filed Nov. 25 by creditors Baker Hughes Oilfield Operations Inc., Cactus Pipe & Supply and Schlumberger Technology Corp. to a voluntary petition, according to court papers. In addition, to fund its operations during the restructuring process, Energy and Exploration said that it secured commitments for up to $135 million of new debtor-in-possession financing from a group of its senior lenders.
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