Enduro Resource Partners Files for Bankruptcy With Three Offers

Enduro Resource Partners filed for bankruptcy, blaming historically low oil and gas prices, but said it already had three offers for various parcels of its assets.

The petition, in Delaware court May 15, listed up to $500 million in debt and assets. The energy company has an agreement with first-lien lenders to use their cash collateral to fund it throughout a sale process, and an agreement in principal on plan distributions with second-lien holders, according to court papers.

When oil and gas prices turned lower, the company “proactively began working to manage their balance sheet, hiring advisers and initiating negotiations ...