Alaskan Oil & Gas Co. Opens Del. Ch. 11 With $450M Debt

Law360 (August 9, 2019, 10:27 AM EDT) -- Long-struggling Alaskan oil and gas producer Furie Operating Alaska LLC hit Chapter 11 in Delaware on Friday with about $450 million in debt and plans to sell its assets within the next few months.

Furie and two affiliates opened the bankruptcy citing uncertainty with tax credits it has historically received due to a drop in oil and gas prices, years of liquidity issues and breaches of credit facilities, construction delays, and cost overruns, according to a first-day declaration of Chief Operating Officer Scott M. Pinsonnault.

The company operates "as an independent energy company primarily focused on the acquisition, exploration, production, and...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!