Fracking Company:  Coronavirus, Competition Forced It Into Chapter 11 Bankruptcy

(June 4, 2020, 7:51 AM EDT) -- HOUSTON — The CEO for a hydraulic fracturing company on May 16 filed a declaration in federal bankruptcy court in Texas despite listing more assets than liabilities, citing the “precipitous decline” in oil prices related to the novel coronavirus pandemic and “the flooding of oil markets” by its competitors (In re: Gavilan Resources LLC, No. 20-32656, S.D. Texas Bkcy.)....