Houston company's upstream subsidiary to file Ch.11

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Houston-based Adams Resources Exploration Corp., a subsidiary of Houston-based Adams Resources & Energy Inc. (NYSE MKT: AE), plans to file for Chapter 11 reorganization and conduct a sale process, the parent company announced April 20. The bankruptcy decision was reached after the parent company completed a review of strategic alternatives for the subsidiary. Oil and Gas Asset Clearinghouse LLC has been retained to advise with the sale process. No other information about the Chapter 11 filing or...

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