Capco Energy Files For Chapter 11

Law360, New York (April 14, 2008, 12:00 AM EDT) -- Capco Energy Inc., an onshore and offshore gas company, filed a voluntary petition for Chapter 11 last week, citing $22 million in debt owed primarily to Union Bank of California.

Capco, also known as Amco Petroleum Inc., filed the petition in the U.S. Bankruptcy Court for the Southern District of Texas. The company owes UBOC approximately $14 million, $3.7 million of which is in the form of letters of credit issued to cover ongoing operations.

Capco also cited 100 to 199 unsecured creditors claiming debt up...
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