EXPLORATION

Drill rig maker files for bankruptcy

Hoping to sell of the business through a court-supervised process.

Rig maker Schramm has gone into Chapter 11.

Rig maker Schramm has gone into Chapter 11.

It is understood the company has secured an initial US$16.3 million offer from private equity firm GenNx360 Capital Partners. GenNx360 is an existing lender and owns a large stake in Schramm's bankrupt...

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