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Tales of woe stain Gulf Coast oil patch

THE blood is starting to flow as a swathe of US independent junior oilers begin to collapse, knocked down by low oil and gas prices, with two more companies entering into Chapter 11 bankruptcy protection this week.

Haydn Black
Tales of woe stain Gulf Coast oil patch

Milagro Oil & Gas and Sabine Oil & Gas became the sixth and seventh companies to file for the protection, which, unlike Chapter 3 bankruptcy, gives companies time to reorganise their finances as the shale...

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