Go to top of page
Close
 
Close
Back
ROS Top

BJ Services Has Voluntarily Filed Petitions For Chapter 11 Bankr

BJ Services Has Voluntarily Filed Petitions For Chapter 11 Bankr

« Back
Message Menu
Author Photo by: TomballDotCom Active Indicator LED Icon Site Admin
~ 1 week, 2 days ago   Jul 28 2020, 12:53pm 
BJ Services Has Voluntarily Filed Petitions For Chapter 11 Bankruptcy
 
Forum Image
 
Press release from BJ Services:
 
"Despite maintaining a leading market position and strong client support, the severe downturn in activity and subsequent lack of liquidity resulted in an unmanageable capital structure.
 
After exhausting every possible alternative to address these issues and improve our liquidity, we have made the very difficult decision to proceed with a Chapter 11 process,” said Warren Zemlak, President and Chief Executive Officer of BJ Services.
 
The Company believes a successful completion of the sales of the cementing business and portions of the fracturing business would reduce the number of jobs impacted by this process.
 
The Company is developing a plan with its stakeholders to minimize disruption to current client activity as much as feasible and will be reaching out to clients to discuss available options.
 
What are your thoughts? Log in or sign up to comment
ROS Top




SPONSORED:
G & C Hydraulics, LLC Logo ATS Mechanical Logo Air Innovations, LLC Logo Modern Heart and Vascular Institute  Logo Abacus Plumbing, Air Conditioning And Electrical Logo Natural Ways CBD and More Logo Adecco Sealants Logo Silver Accounting Group LLC Logo Tomball Smiles Dentistry Logo The Bath Program Logo
Sponsor an Ad »



See more of Tomball.com by logging in
Your online community neighborhood for Tomball-area residents.
Kosmin Media