Oil and gas company owned by prominent Fort Worth family files for bankruptcy
Last edited Sat May 19, 2018, 03:17 PM - Edit history (1)
FORT WORTH -- Enduro Resource Partners, an oil and natural gas exploration company founded in 2010 by the prominent Fort Worth father-and-son team Jon Brumley and Jonny Brumley, has filed for bankruptcy reorganization as the company prepares to sell its holdings in six states.
The company has been "undermined by persistently low oil and gas prices during the past several years," Kimberly Weimer, Enduro's chief financial officer, said in the documents, filed in Delaware Tuesday. Enduro's debt, she said, "became insurmountable."
The filings did not list a total amount of the company's debt.
"Like many other upstream energy companies, (Enduro) did not anticipate in the early part of this decade that they would eventually succumb to the demands of repaying the capital they borrowed to invest in their exploration and production activities," Weimer said.
Read more: http://www.star-telegram.com/news/business/article211327564.html
The article says that the elder Brumley was on the cover of Forbes magazine when he received the Entrepreneur of the Year award when he launched Enduro.
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