37922

Onshore natural gas explorer CDX Gas LLC has filed for bankruptcy protection in U.S. Bankruptcy Court for the Southern District of Texas (No. 08-37922). The filing, which indicated the producer owes $500 million to $1 billion, would allow the Houston-based producer to restructure its finances and operations. Formed in 1991, CDX and its affiliated companies were acquired in March 2006 by investor group TCW and some co-investors. CDX operates across the United States in the Appalachian, Barnett, Arkoma, Black Warrior, Cahaba, Piceance, Uinta and San Juan basins. It extracts coalbed methane using its patented Z-Pinnate Horizontal Drilling and Completion System, which was developed for the Appalachian Basin operations.