Norse Energy's US Unit Spirals Into Ch. 11

Law360, New York (December 7, 2012, 2:00 PM EST) -- Oil and gas company Norse Energy Corp. ASA's U.S. subsidiary has filed for Chapter 11 protection and reorganization, the Norwegian company said Friday, as the future of high-volume hydraulic fracturing remains uncertain in New York state, where Norse has extensive land holdings.

The company said the purpose of its petition was to allow Norse Energy Corp. USA to reorganize its business affairs, restructure its debts and to protect the interests of all its stakeholders. Norse Energy previously said it was waiting on regulatory developments in New...
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