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Energy & Exploration Partners files for bankruptcy

Energy & Exploration Partners of Fort Worth is seeking Chapter 11 bankruptcy protection after suppliers and service companies sought payment for tens of millions of dollars in unpaid bills.

Energy & Exploration Partners and Energy & Exploration Partners Operating filed for bankruptcy late Monday in Fort Worth. It made the filings after Schlumberger Technology, Baker & Hughes and Catcus Pipe & Supply initiated an involuntary bankruptcy against the firm on Nov. 25.

Energy & Exploration joins several other companies reorganizing in bankruptcy court as oil prices continue to tumble below $40 a barrel following OPEC’s pledge to keep pumping at record levels, adding to the glut of oil on world markets.

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