Richelhoff Resources Inc., Bankruptcy

Richelhoff Resources Inc., a Saskatchewan-based oil and gas company, filed an assignment in bankruptcy on May 7 listing approximately $5.5 million in liabilities.

The company ran into financial difficulties during the Covid-19 pandemic which led to the shutting down of wells and loss in production. In addition, the decline in oil prices and uncertainty in the oil and gas industry has impacted Richelhoff’s business.

MNP is the bankruptcy trustee.