TXCO Resources Inc has filed for Chapter 11 bankruptcy protection as of Monday. The San Antonio company has said that energy prices and the tightened credit market were large factors in the filing.

The company's interests lie in the Maverick Basin, the Gulf Coast on shore, the Marfa Basin and Oklahoma's Midcontinent region. However, they have been having a great deal of difficulty raising money, leading to the bankruptcy.

If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.