RAAM Global Energy Co. Hits Ch. 11

Law360, New York (October 27, 2015, 8:40 PM EDT) -- Kentucky-based RAAM Global Energy Co. filed for Chapter 11 bankruptcy protection Monday in Texas federal court, citing falling oil prices and the collapse of one of its oil fields and saying it is pursuing a stalking horse bid.

The company, which drills offshore in the Gulf of Mexico and onshore in Louisiana, Texas, Oklahoma and California, has been struggling after the decline in oil and natural gas prices in 2014, according to Chief Restructuring Officer James R. Latimer III. It has also faced decreased production after the collapse of a Texas oil field and has been unable to restructure more than...

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