From The Houston Chronicle, July 20, 2020:
Bruin E&P Partners, a Houston oil and gas company backed by private equity firm ArcLight, has filed for bankruptcy protection, another casualty of the coronavirus-driven oil crash.
The energy company filed for Chapter 11 bankruptcy Thursday in federal court in Houston.
The privately-held company, which is focused on oil and gas production in North Dakota, said it was forced to file for bankruptcy after its lenders reduced the company’s credit line, causing the company to be overdrawn by more than $170 million.The reader sent the following, thank you, very much:
Bruin, as an operator, milestones (tracked here):
- July 30, 2020: Bruin E&P files for bankruptcy.
- monster pad, January 31, 2020;
- Bruin may simply be the best operator in the Bakken right now, January 14, 2019
- record-breaking well, almost 100K in one month; August 1, 2018
- update on Bruin with input from readers, January 23, 2018
- big news, July 11, 2017: Bruin to buy all of Halcon's operated assets in the Williston Basin
- 104,000 net acres for $1.4 billion; about $13,500/acre
- first mentioned at the blog; January 23, 2017