Oil and gas producer Midstates Petroleum Co Inc raised doubts about its ability to remain as a going concern and said it may need to seek Chapter 11 bankruptcy protection. “We have substantial debt obligations and may not be able to maintain adequate liquidity throughout 2016,” Midstates Petroleum said. ( bit.ly/232AxWg ) A more than 70 percent fall in oil prices since mid-June has dwindled the oil market and pushed many oil and gas producers to file for bankruptcy. About 40 oil and gas producers across the globe have filed for bankruptcy since oil prices began to decline in late 2014, and up to a third of all energy companies may fail unless prices recover, consulting firm Deloitte said last month. Midstates Petroleum said on Wednesday it had engaged financial and legal advisers to analyze strategic alternatives to address its liquidity and capital structure. “The company believes a filing […]