Natural gas pipeline company Southcross Energy Partners LP said that its parent, Southcross Holdings LP, has reached a restructuring deal "in principle" with its owners, lenders and others, that would be implemented under chapter 11, Reuters reported yesterday. The restructuring is contingent upon, among other things, final documentation and necessary approvals, Southcross Energy said. About 40 oil and gas producers across the globe have filed for bankruptcy since oil prices began to decline in late 2014, and up to a third of all energy companies may fail unless prices recover.
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