Far East Energy Corp. is focused on coalbed methane (CBM) exploration and development in China.
The US listed company that operates the Shouyang CBM Production Sharing Contract (PSC) in Shanxi Province, People’s Republic of China, has ceased operations and commenced bankruptcy proceedings (the ‘Chapter 7 Case’) by filing a voluntary petition for relief under provisions of Chapter 7 of Title 11 of the US Code to initiate an orderly liquidation of the assets of the company.
The Chapter 7 Case is entitled "In re Far East Energy Corporation" and is being administered under case number 15-35970 in the US Bankruptcy Court for the Southern District of Texas.
Edited from press release by Harleigh Hobbs
Read the article online at: https://www.worldcoal.com/cbm/11112015/far-east-energy-ceases-operations-and-files-for-bankruptcy-3140/