Ezra files for bankruptcy in US

Troubled oil field services firm Ezra Holdings has filed for bankruptcy in the United States, amid a prolonged slump in the oil and gas sector.
Troubled oil field services firm Ezra Holdings has filed for bankruptcy in the United States, amid a prolonged slump in the oil and gas sector. PHOTO: EZRA HOLDINGS

Troubled oil field services firm Ezra Holdings has filed for bankruptcy in the United States, amid a prolonged slump in the oil and gas sector.

The company has filed voluntary petitions for reorganisation under Chapter 11 of the US Bankruptcy Code, it said in a stock exchange filing yesterday.

Ezra's bankruptcy is likely to weigh on other companies in the already-struggling oil and gas sector. A number of financial institutions here are also exposed to the company's debt.

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A version of this article appeared in the print edition of The Straits Times on March 20, 2017, with the headline 'Ezra files for bankruptcy in US'. Print Edition | Subscribe