Oil and gas producer Magnum Hunter Resources and its affiliates filed for chapter 11 bankruptcy protection to carry out a debt-cutting plan as a prolonged slump in oil prices has depleted the company's cash. In a Chapter 11 filing in Wilmington, Del., Tuesday, the company requested relief from $1.4 billion in debts, citing the depressed state of the global commodities market. Magnum Hunter Resources Corp.is based in Irving, Texas, and owns about 45% of the equity interest in the Eureka Hunter Pipeline LLC. Telegraph Times
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