Despite reducing what it owes Capital One Bank NA by $15 million since January, oilfield services provider Frac Specialists LLC has filed for bankruptcy (Lead Case No. 15-41961-RFN-11) with plans to restructure its prepetition debt.
The Midland, Texas, company and affiliates Acid Specialists LLC and Cement Specialists LLC submitted a Chapter 11 petition in the U.S. Bankruptcy Court for the Northern District of Texas in Fort Worth on Sunday, May 17. Judge D. Michael Lynn, who is presiding over the case, has yet to set any hearing dates. First day motions are uneventful. First Day Declaration