According to the U.S. Bankruptcy Court docket, ESP Resources (f/k/a/ Pantera Petroleum) and wholly-owned subsidiary ESP Petrochemicals filed for Chapter 11 protection in the Southern District of Texas.
The Company, which formulates specialty chemicals for the oil and gas industry, is represented by Edward L. Rothberg of Hoover Slovacek.
According to documents filed with the Court, “Since 2014, ESP has been negatively impacted by the decline in oil prices affecting the entire oil industry. The rapid and unexpected decline in oil prices led to a significant decline in fracking activity by ESP’s customers.”
Read more bankruptcy news.
The post ESP Resources Chapter 11 Petition Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.