Bloomberg3 years ago
Endeavour International Corp. (END) , a U.S.-based oil and gas exploration firm with operations in the North Sea, sought bankruptcy protection yesterday, saying it has a restructuring agreement with some creditors. More than two-thirds of holders of some notes have approved a restructuring support agreement that would reduce debt by $568 million, Houston-based Endeavour said in a statement. Among the largest unsecured creditors listed in court papers were holders of $404 million in notes under the trust of Wells Fargo Bank, $150 million with Wilmington Trust as trustee, and $135 million with Wilmington Savings Fund Society as trustee. The main case is In re Endeavour Operating Corp., 14-12308, U.S.