Colorado oil and gas company files for Chapter 11 bankruptcy protection — again

DENVER BUSINESS JOURNAL - Nine months after a federal bankruptcy judge signed off on a restructuring plan for Denver oil and gas company Venoco Inc., the company is back in bankruptcy court.

Venoco, which focuses on operations offshore of southern California, filed a Chapter 11 petition today in U.S. Bankruptcy Court in Wilmington, Delaware — but this time restructuring isn’t in the cards, the company said.

Venoco’s announcement about the Chapter 11 filing said, “The company’s assets are expected to be sold or wound down through the bankruptcy process.”

All of Venoco’s 110 employees will ultimately lose their jobs, the company said in a statement.

Read more at the Denver Business Journal: http://bizj.us/1p52y9

(© 2017 American City Business Journals. All rights reserved.)
 

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