Sheridan Holding Co. II LLC Files for Bankruptcy in Texas

The oil and gas investment fund and eight affiliates sought bankruptcy protection with a plan to reduce debt by $900 million.

• Sheridan listed assets of more $100m and debt of more than $1b in Chapter 11 documents filed Sunday in U.S. Bankruptcy Court in Houston
• Co. was established in 2010 with a strategy to acquire and enhance the value of mature oil and gas producing properties: court papers
• “The downturn and continued weakness in the commodities markets, however, has hindered the Debtors’ ability to implement their strategy,” Chief Executive Officer Lisa Stewart said in court papers
• CASE: Sheridan Holding Co. ...