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A rebound in oil prices that bottomed near $44 a barrel in March has provided some relief to stronger companies that have been able to compensate with cost cuts and more efficient operations. For many smaller, cash-strapped producers, current prices of almost $60 still aren’t enough to make ends meet compared to the $100-plus prices seen during the boom days.  Those smaller companies may benefit from a reorganization in  a chapter 11 Bankruptcy.  A chapter 11 will give those companies relief and allow them to continue in business without having to pay current debt.  A plan will be filed based on the companies financials and ability to pay back debt.  Contact William (Bill) Vidrine to discuss your options.