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Oil Driller Seeks Bankruptcy Protection

Law360 (September 11, 2008, 12:00 AM EDT) -- Oil- and gas-drilling outfit Boom Drilling Inc. sought Chapter 11 protection on Monday, in a move that comes against the backdrop of a dispute with secured lender Laurus Master Fund Ltd., which Boom says tried to sell off the company's assets.

Boom Drilling and three affiliates filed their petitions in the U.S. Bankruptcy Court for the Western District of Oklahoma. The cases are being jointly administered. Boom Drilling's petition listed assets in the $100 million to $500 million range, and liabilities between $50 million and $100...
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