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April 14 (Reuters) - Oil and gas producer Pacific Exploration & Production Corp said its board has agreed to negotiate a financial restructuring involving The Catalyst Capital Group Inc and the company's creditors.
The company, an ad hoc committee of noteholders, bank lenders and Catalyst continue to be engaged in direct negotiations to finalize the terms of the restructuring, Pacific Exploration said in a statement on Thursday. (Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta)