Shale Gas Driller Rockdale Marcellus Files for Ch. 11 Bankruptcy

Rockdale Marcellus Holdings filed for bankruptcy on Tuesday with plans to try to sell natural gas assets at auction.

• The company leases more than 49,000 acres that include 68 horizontal gas wells in northeastern Pennsylvania, according to court papers filed in Pittsburgh
• The company listed assets and debts of $100 million to $500 million each in its Chapter 11 petition
• Among the company’s top unsecured creditors is White Oak Global Advisors, owed $50.5 million, according to court papers
• The company decided to file bankruptcy about four months after funds managed by Alta Fundamental Advisers bought out Rockdale’s loans and pressed ...