Arsenal Heads into Chapter 11 Bankruptcy for Second Time

On Feb. 4, 2019, the parent holding company for Marcellus driller Arsenal Resources, Arsenal Energy Holdings LLC, applied for what has to be the fastest “prepackaged bankruptcy” we’ve ever heard of. They sailed through the whole process in 10 days flat (see Arsenal Energy Exits Bankruptcy in 10 Days Flat). Less than 10 months later and the company is heading back into bankruptcy. However, this time it is Arsenal Resources, the driller itself (not the holding company) that’s heading into Chapter 11 bankruptcy. Arsenal drills on acreage in northern West Virginia.

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