Ultra Petroleum, Midstates Petroleum Latest To Hit Ch. 11

By Jonathan Randles (May 2, 2016, 6:30 PM EDT) -- Ultra Petroleum Corp. and Midstates Petroleum Co. Inc. in Texas became the latest oil and gas companies to file for bankruptcy to restructure billions of dollars in debt, filings that credit ratings agency Fitch Ratings on Monday said propelled the default rate on high-yield energy bonds to a record high amid an ongoing oil price slump....

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