Houston-based oilfield services (OFS) giant Superior Energy Services Co. has begun voluntary Chapter 11 proceedings before the U.S. Bankruptcy Court for the Southern District of Texas to implement a proposed pre-packaged restructure plan.


The company announced its intention to file for bankruptcy in September.

“Since the initial announcement of our planned recapitalization initiative in September, we have been encouraged by the growing consensus of the noteholders that have agreed to support the plan, as well as the ongoing strong backing and support provided by our customers and lenders,” said CEO David Dunlap. “The company looks forward to quickly emerging from the Chapter 11 cases in early 2021.”

Superior entered Chapter 11 with the support of holders of 85% of...