Freedom Oil and Gas became the latest victim of the oil crash as it filed for bankruptcy protection, the Houston Chronicle reported. The Houston oil exploration and production company, formerly known as Maverick Drilling Services, filed for chapter 11 protection on Monday in federal court in Houston. The company said that it was unable to pay its more than $10 million of debt as revenues have plunged during the global coronavirus pandemic. It plans to sell all of its assets to Australian environmental services company Sendero Resources, pending approval from the bankruptcy court.
