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A Texas-based oil and gas company files for bankruptcy

Posted/updated on: July 2, 2020 at 10:13 am
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OKLAHOMA CITY (AP) — Texas oil and gas company Sable Permian Resources has filed for bankruptcy. A news release says the company is seeking Chapter 11 protection in federal bankruptcy court in Houston. The Oklahoman reported Tuesday that Permian Resources was once part of American Energy Partners. That Oklahoma company was founded by Aubrey McClendon in 2013. American Energy announced it would close in 2016 and split up operations into separate companies, including Permian Resources. In 2017, it became Sable after the company reached a $1 billion deal with creditors to continue operating.


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