Natural gas producer files for bankruptcy a second time

A Wexford-based natural gas producer with operations in West Virginia filed for Chapter 11 bankruptcy protection, its second in less than a year, and announced a $100 million recapitalization.

Arsenal Resources Development said the filing, made Friday in the U.S. Bankruptcy Court for the District of Delaware, includes a reorganization plan that will provide $100 million in investment from two of its lenders, Chambers Energy Capital and Mercuria Energy Co. The restructuring plan has the approval…


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