The dominos are starting to fall, and it hasn’t been a good March so far for three Texas oil and gas operators. As prices take another nosedive, here come the Chapter 11 filings as struggling producers decide the mounting pressure of debt payments and other obligations won’t wait for prices to turn. Tuesday, Quicksilver Resources Inc., a Ft. Worth, Texas shale operator, announced voluntary Chapter 11 filing in the United States Bankruptcy Court in Delaware. BZP Resources Inc. of Houston similarly filed on March 9, saying the current oil price environment made debt refinancing difficult. And as things seem to come in waves of three, Houston’s Cal Dive International, Inc. initially tripped the dominos on March 3.
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