The Houston oil producer filed for bankruptcy protection Thursday amid collapsing finances and an SEC investigation into possible fraud. Latham & Watkins and Porter Hedges are serving as the debtors’ co-counsel.
Houston Chronicle: SEC Examining Alta Mesa Resources
The U.S. Securities and Exchange Commission is investigating the Houston oil and gas company Alta Mesa Resources for potential fraud amid admitted failures in its financial reporting, the company said Friday in a regulatory filing.
O&G Bankruptcies Fall Nearly 40 Percent
A Haynes and Boone study shows that North American oil and gas bankruptcies fell to just 43 filings in 2018, down from 70 in the prior year. The Houston Chronicle’s Jordan Blum explains.
Chron: Parker Drilling Filing for Bankruptcy
Houston-based Parker Drilling said Wednesday it’s filing for bankruptcy and losing its listing on the New York Stock Exchange. The financially hobbled onshore drilling contractor has struggled mightily since the