16th May 2018 14:33
LONDON (Alliance News) - US focused oil development and production company Nighthawk Energy PLC said Wednesday that its US subsidiary Nighthawk Production LLC has filed a voluntary petition for reorganisation under chapter 11 of the US Bankruptcy Code.
Nighthawk Production's subsidiary OilQuest LLC also filed for chapter 11.
With these petitions, the two units joined Nighthawk Energy and and its direct subsidiary, Nighthawk Royalties LLC, both of which filed similar petitions in April.
Nighthawk said it remains open to discussions with its stakeholders regarding a possible alternative proposal for a restructuring and a recapitalization of the company.
Nighthawk Energy shares remained suspended.