Southern Pacific Resource Seeks Bankruptcy Protection in Canada

Category: Bankruptcy Law Published: Thursday, 29 January 2015 Written by Admin

Canadian oil exploration company Southern Pacific Resource Corp. has sought protection from creditors with an insolvency filing under Canada's bankruptcy law.

Southern Pacific Resource said Wednesday it determined that protection under Canada's Companies' Creditors Arrangement Act was in its best interest, considering the world-wide low oil and gas prices and its own depressed levels of production.

The company added that it...

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