Stallion Oilfield Files For Ch. 11 With Lender Support

Law360, New York (October 19, 2009, 6:43 PM EDT) -- Stallion Oilfield Services Ltd. filed for Chapter 11 protection Monday after securing the lender support needed to move forward with a prearranged plan to shave off $515 million in secured debt from its balance sheet.

The Houston-based oil and natural gas drilling and logistics services company listed between $500 million and $1 billion in both assets and liabilities in its petition with the U.S. Bankruptcy Court for the District of Delaware. The filing includes 17 affiliates.

The petition comes about two weeks after the company announced...
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