Oil driller initiates “unique” bankruptcy plan with second Chapter 11 filing in a year
Offshore oil rig and tanker (Credit: iStock.com/gremlin)
US oil exploration company Hercules Offshore has filed for Chapter 11 protection for the second time in a year, as part of a wind-down plan in which it says it will include the sale of its foreign subsidiaries and meet all payments to unsecured creditors.
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