PHI notes drop after bankruptcy filing; EP Energy issues crater after earnings report

By James McCandless

San Antonio, March 15 – To cap off the week, energy names were the focus of the Friday distressed session.

PHI, Inc.’s notes dropped after the company filed for Chapter 11 bankruptcy as some of its debt matured.

Sector peer Bristow Group Inc.’s issues were also negative.

Elsewhere in energy, EP Energy Corp.’s paper cratered after reporting a loss for the fourth-quarter.

Little movement in oil futures led to non-uniform trading as California Resources Corp.’s notes closed mixed, Denbury Resources Inc.’s issues declined and Halcon Resources Corp.’s paper rose.

Meanwhile, MDC Partners Inc.’s notes were pushing higher after reporting earnings and the completion of a chief executive officer search.

In healthcare, Endo International plc and Mallinckrodt plc’s issues were better.

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