Craig Energy, a Denver-based oilfield services firm, filed for chapter 11 protection, the Denver Post reported today. Facing debt in excess of $45 million — more than $38 million of which is secured — Craig Energy listed assets of $26.2 million, primarily in equipment such as drill rigs, pumps and vehicles. Craig Energy's operations span formations as Bakken in North Dakota and Montana, Niobrara in Wyoming and Colorado, and Bone Spring in Texas. Court filings show that annual revenue sunk by more than 50 percent to $46.2 million in 2015 from the year before. Read more.
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