Pensacola Attorneys Explain the Bankruptcy Situation of a Large Oil Production Company
Pensacola, Florida. – The owners of the oil wells in the Gulf of Mexico, Fieldwood Energy LLC, had previously filed for bankruptcy protection. They have gone, along with some subsidiaries, to the South Texas District Bankruptcy Court to file for bankruptcy. The judge determined that the company is authorized to transfer large sums of money in environmental liability to the former owners and insurers of the wells. Like trust Pensacola lawyers, the law firm Lewis & Jurnovoy explains this situation in more detail.
Currently, Fieldwood Energy LLC is in the process of a full restructuring under Chapter 11 bankruptcy. The company sought a bankruptcy court order allowing it to continue operating during this period of restructuring. They continue to operate while the Chapter 11 bankruptcy cases unfold, and they continue to work with vendors, employees, and co-working interest owners.
The question of who should bear the high costs of plugging and abandoning wells has been argued for months in a federal bankruptcy court in Houston. While this situation is difficult for many different parties, law firm Lewis & Jurnovoy is hopeful that the beloved Gulf Coast will not be endangered as a result.
Obviously, bankruptcy can be complicated and difficult, but it doesn’t have to be. Lewis & Jurnovoy Law Firm is knowledgeable and experienced in handling Chapter 13 and Chapter 7 bankruptcy cases smoothly and tactfully. Martin Lewis and Steve Jurnovoy have both practiced law for over 20 years and currently serve clients located throughout the Panhandle in Crestview, Panama City, Pensacola and Fort Walton Beach. For more information or to file for bankruptcy with a Pensacola avocado, call Lewis and Jurnovoy today at (850) 432-9110 or visit their website atwww.lewisandjurnovoy.com/.
For more information on Lewis & Jurnovoy, PA Pensacola, contact the company here:
Lewis & Jurnovoy, Pennsylvania Pensacola
1100 rue Palafox North
Pensacola, Florida 32501