China Focused CBM Explorer Far East Energy Files for Bankruptcy

China focused coal bed methane explorer Far East Energy Corp has ceased operations and commenced bankruptcy proceedings.

The Houston based firm has filed a voluntary petition for relief under provisions of Chapter 7 of Title 11 of the United States Code to initiate an orderly liquidation of the assets of the company.

Far East Energy operates CBM PSCs in China’s Shanxi and Yunnan provinces.

The Chapter 7 case is entitled 'In re Far East Energy Corporation' and is being administered under case number 15-35970 in the United States Bankruptcy Court for the Southern District of Texas, the company said.