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Oil Barge Operator Bouchard Files for Bankruptcy in Texas

Sept. 29, 2020, 1:11 PM

Bouchard Transportation Co., a century-old oil barge company with operations across North America, filed for bankruptcy in Texas on Monday amid a slump in the energy industry.

Bouchard, which calls itself the largest independently owned oceangoing petroleum barge company in the U.S., listed assets of as much as $1 billion and liabilities of up to $500 million in its bankruptcy petition. The Chapter 11 filing gives the Melville, New York-based company time to work out a plan to repay creditors while continuing to operate.

The filing comes amid a deep downturn in the energy industry that’s sent dozens of ...