Erin Energy files for chapter 11 bankruptcy protection

Erin Energy files for chapter 11 bankruptcy protection

Houston-based Erin Energy Corporation, which mainly focuses on offshore oil developments in Africa, has filed for Chapter 11 bankruptcy protection.

Under the filing, made in the Southern District of Texas, Houston Division, Erin and some of its subsidiaries are asking the court to approve a reorganization plan as it seeks to restructure its debt.

Erin and the subsidiaries will continue to operate under the jurisdiction of the court.

Court documents show the company listing assets of nearly $247.54 million and total debts exceeding $628.72 million.

Erin has exploration licences for offshore Nigeria, Ghana, Gambia and Kenya but the oil sector in Africa has been struggling.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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