Oil Driller PetroQuest Files Bankruptcy With Plans to Sell

Oil and gas producer PetroQuest Energy has filed bankruptcy and is soliciting bids to sell the business, according to court documents.

• PetroQuest and its affiliates filed Chapter 11 late Wednesday in Delaware after launching a process earlier this year to sell its assets
  • The bankruptcy filing marks the second time PetroQuest has filed for Chapter 11 after earlier seeking court protection in 2018, according to court documents
• PetroQuest said its had multiple rounds of bidding for its assets and is in discussions to designate one unnamed party a stalking horse bidder
  • A stalking horse bid would set the floor price ...