Stallion Oilfield Services Preps For Prepack Ch. 11

Law360, New York (October 8, 2009, 1:03 PM EDT) -- Oil and natural gas drilling logistics company Stallion Oilfield Services Ltd. has reached an agreement with a working group of secured lenders and other investors on a restructuring plan that will see the company shave off $515 million in unsecured debt through a prepackaged Chapter 11 process.

According to a statement Stallion released Wednesday, the bankruptcy filing will come “in the near future” after it has secured enough support from a broader swath of Stallion's lenders and noteholders.

Stallion said it had reached an agreement on...
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