The heavy price decline in the oil and gas industry since last summer has caused and will continue to cause significant financial pain for many companies in this volatile sector.
One recent example is Houston-based BPZ Resources. Earlier this year, the unsettled energy market caught up with the independent oil and gas exploration and production company, which filed on March 9 for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court of the Southern District of Texas.
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