Connacher Oil and Gas Ltd. files for creditor protection

, Financial News

 had restructured its lending agreements with creditors last year, but announced Monday that it had filed for CCAA protection Monday at the Alberta Court of Queen’s Bench.

CALGARY – Depressed oil prices and an inability to raise money forced oilsands junior Connacher Oil and Gas Ltd. to seek protection from its creditors on Monday.

The Calgary-based oilsands producer had restructured its lending agreements with creditors last year, but announced Monday that it had filed for CCAA protection Monday at the Alberta Court of Queen’s Bench.

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