Texas’s Energy XXI Ltd. Files for Bankruptcy

[wsj-responsive-image P="http://si.wsj.net/public/resources/images/BN-NF722_emeral_P_20160323132217.jpg" J="http://si.wsj.net/public/resources/images/BN-NF722_emeral_J_20160323132217.jpg" M="http://si.wsj.net/public/resources/images/BN-NF722_emeral_M_20160323132217.jpg" Published Credit: karen bleier/Agence France-Presse/Getty Images" credit="karen bleier/Agence France-Presse/Getty Images" placement="Inline" suppressEnlarge="false" ]​

Heavily indebted U.S. oil and gas firm Energy XXI Ltd.  filed for chapter 11 bankruptcy protection in Houston early Thursdaymorning, becoming the latest energy company to fall foul of volatile oil and gas prices, The Wall Street Journal reports.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)

The watchdogs of two U.S. bank regulators are investigating whether the regulators’ assessments of big banks’ plans to wind down in a potential bankruptcy were leaked to The Wall Street Journal, WSJ Pro reports.

Pacific Exploration & Production said Thursday it had agreed to work with Catalyst Capital Group Inc. on a restructuring deal aimed at easing the Canadian-Colombian oil company’s cash crunch, WSJ reports.

Reliable Racing Supply Inc., an equipment and fixtures supplier to the ski and snowboard industry, filed for bankruptcy blaming the unseasonably warm weather, the Post-Star newspaper in upstate New York reports.

Write to Katy Stech at [email protected]. Follow her on Twitter at @katystech