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Erin Energy files for bankruptcy 

By: capt_nemo in POPE 5 | Recommend this post (1)
Sun, 29 Apr 18 9:31 AM | 50 view(s)
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The FPSO Armada Perdana gathers oil from an offshore Nigeria project whose partners include Camac subsidiary Allied Energy.
Houston-based Erin Energy said it filed for bankruptcy protection as it seeks to restructure its debt and regain financial viability.

The financially struggling energy firm, which changed its name from Camac Energy to Erin in 2015, primarily focuses on oil and gas developments in Africa, especially offshore of Nigeria. The oil sector in Africa is still struggling to recover from the recent oil bust.

"We will work diligently with all parties involved to complete the restructuring as quickly as possible so as to restructure all of the company's debt obligations in order to achieve financial stability and reposition Erin Energy with a strengthened liquidity position to execute on our extensive asset development opportunities," said Erin CEO Femi Ayoade

http://www.chron.com/business/energy/article/Erin-Energy-files-for-bankruptcy-12866238.php




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