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Breitburn should shelve drilling plans, unsecured creditors say
October 18, 2016 / 6:50 PM / a year ago

Breitburn should shelve drilling plans, unsecured creditors say

Bankrupt Breitburn Energy Partners LP should not get more time to craft a Chapter 11 plan, according to its unsecured creditors, who argue the company appears determined to undertake a risky strategy for developing oil and gas properties.

If Breitburn goes down that path instead of pursuing a sale, the company could emerge from bankruptcy with too much leverage, which contributed to its Chapter 11 filing, the company’s official committee of unsecured creditors said in court papers filed on Friday.

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