Local Debt Consolidation Lawyers Highlight Gulf Oil Company Bankruptcy Result
Fort Walton Beach, Florida. – Fieldwood Energy LLC, the company that aims to redevelop a series of old oil wells in the Gulf of Mexico and has filed for bankruptcy, has been authorized to transfer hundreds of millions of dollars in environmental liabilities to the former owners and insurers of its wells last month after bankruptcy was processed. As described in a company press release, Fieldwood Energy LLC and certain subsidiaries (collectively, “Fieldwood” or “Company”) have voluntarily filed for bankruptcy in the South District of Texas bankruptcy court. Currently, the company operates several oil facilities in the Gulf of Mexico, according to reports. debt consolidation lawyers.
In the Chapter 11 cases, Fieldwood continued to operate his business and support production with suppliers, co-working space owners and employees. As part of Chapter 11, the company began to undergo a complete restructuring. Fieldwood has filed a letter with the bankruptcy court requesting permission to continue operations, including in the Gulf of Mexico, while undergoing restructuring.
After the bankruptcy, a federal bankruptcy court in Houston fought for months over which company should handle the massive costs of plugging and abandoning wells. All are found in the shallow waters of the Gulf of Mexico where an oil spill could wreak havoc. Everyone along the Gulf Coast agrees that Fieldwood’s bankruptcy situation should not jeopardize the beauty of the beloved Gulf Coast.
As a local bankruptcy office, Lewis and Jurnovoy take great pride in serving the Gulf Coast of Florida. Lawyers specialize in bankruptcy law, particularly Chapters 13 and 7. Lewis and Jurnovoy have been tireless in providing Fort Walton Beach bankruptcy assistance and the surrounding area for over 20 years. For more information on debt relief or bankruptcy, call them at (850) 863-9110 or visit them online at www.lewisandJurnovoy.com.
For more information on Lewis & Jurnovoy, PA-FWB, contact the company here:
Lewis & Jurnovoy, PA-FWB
Steven D. Jurnovoy and Martin S. Lewis
151 South Mary Esther Coupé NW Ste 103, Mary Esther, FL 32569