Service & Supply | Oilfield Services | Bankruptcy / Restructure Update | Financial Trouble | Capital Markets
Frac Sand Provider, Emerge Files Chaper 11 Bankruptcy
Frac sand provider Emerge Energy Services announced that the Company has voluntarily filed for relief under Chapter 11.
The Company has received a commitment for debtor in possession financing from its secured lenders in the amount of $35 million and received interim authorization from the Bankruptcy Court for use of its cash on hand as well as the initial funding of $7.5 million of the DIP commitment.
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