January 9, 2018 / 9:41 PM / a month ago

Bankrupt oil producer Breitburn urges Chapter 11 confirmation

Oil and gas producer Breitburn Energy Partners Inc said on Tuesday it is ready to wrap up its long-running bankruptcy with support for its restructuring plan from creditors holding more than $3 billion in debt and claims.

The plan stems from recent mediation and marks the culmination of more than 18 months in a Chapter 11 bankruptcy that was one of the most complex filed by an energy producer during the industry’s recent slump, Breitburn said.

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