Blackstone-backed Gavilan Resources files for bankruptcy: WSJ

Gavilan Resources LLC, an oil and gas company backed by Blackstone, has filed for bankruptcy protection, reported the Wall Street Journal.

Gavilan Resources LLC, an oil and gas company backed by Blackstone, has filed for bankruptcy protection, reported the Wall Street Journal. The news outlet noted that the Chapter 11 filing came as a result of “the collapse in energy prices and a long-running commercial dispute with a rival Texas shale driller.”

Source: WSJ