Private equity-backed EP Energy Corp., along with its affiliated entities, has become the latest company to fall into bankruptcy, crushed by low commodity prices.

Seeking relief as it works to bring down about $3.3 billion in debt, the Houston-based company said Oct. 3 it voluntarily filed the petitions for Chapter 11 bankruptcy.

“Like other companies in our industry, we continue to experience challenging dynamics as a result of depressed commodity prices,” EP Energy CEO Russell Parker said in a statement, “and we have been very transparent about our ongoing efforts to actively manage our capital to control spending and preserve liquidity.”

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