Obama drilling permatorium causes company to go bankrupt

And do it begins...

On Friday Seahawk Drilling became the first Gulf of Mexico drilling company to file for bankruptcy since last spring's BP/Deepwater Horizon spill and the resulting Obama administration "permatorium" against drilling in the Gulf.

The Daily Caller is reporting that the company will sell its remaining assets to another firm.

Says the firm's CEO, "I think it is important to note that Seahawk was forced to seek strategic alternatives only after an unprecedented decline in the issuance of offshore drilling permits following the Macondo blowout."

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