Fracking Co. Enters Ch. 11 With Plan To Restructure Debt

Law360, Wilmington (October 28, 2013, 6:18 PM EDT) -- Green Field Energy Services Inc., which invested heavily in hydraulic fracturing in recent years, entered Chapter 11 along with two subsidiaries in Delaware bankruptcy court Sunday as the oil field services company looks to restructure hundreds of millions of dollars in debt.

Louisiana-based Green Field expanded its traditional well-servicing business to include fracking in 2010, but changing market conditions and the loss of its biggest customer — a unit of Royal Dutch Shell PLC — led the company to seek court protection, according to a declaration...
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