Oil and gas producer Linn Energy LLC filed for chapter 11 bankruptcy Wednesday after reaching a deal with lenders to restructure its $8.3 billion debt load and obtain $2.2 billion in fresh financing. The latest producer to seek court protection amid the commodities rout, Linn Energy said the holders of more than 66% of its credit facility have agreed to the “broad terms” of a debt restructuring but didn’t provide further details.

Source: Wall Street Journal May 11, 2016 15:47 UTC