Murray Energy Corp. will have until Oct. 28 to make payments to lenders, further extending a forbearance agreement announced early October with a payment date of Oct. 14.

WHEELING — Murray Energy Corp. today announced it had filed for Chapter 11 bankruptcy protection, which the company said would allow it to access $350 million in new debtor-in-possession financing as it works with lenders to restructure.

The filing took place in the United States Bankruptcy Court for the Southern District of Ohio.

As part of the filing, and with support of the company’s creditors, a new company would be formed to acquire Murray Energy’s assets through bankruptcy. The new company, called Murray NewCo., would have Robert D. Moore as CEO of Murray Energy and Murray Energy Corp. He would replace company founder Robert Murray in those roles, with Murray serving as chairman of the board under the new company.

“We appreciate the support of our lenders for this process, many of whom have been invested with the Company for a long time. I am confident the DIP Facility provides the Company with adequate liquidity to get payments to our valued trade partners and continue operating in the normal course of business without any anticipated impact to production levels,” Moore said.

“Although a bankruptcy filing is not an easy decision, it became necessary to access liquidity and best position Murray Energy and its affiliates for the future of our employees and customers and our long term success,” Murray said.

Also Tuesday, to facilitate the filing, the company announced that Murray Energy and certain of its subsidiaries entered into a restructuring support agreement with a lender group holding more than 60% of the company’s approximately $1.7 billion in liabilities.

Voluntary bankruptcy petitions also have been filed for all of Murray’s main operating subsidiaries, including American Energy Corp., The Harrison County Coal Co., The Marion County Coal Co., The Marshall County Coal Co., The Monongalia County Coal Co., The Ohio County Coal Co., UtahAmerican Energy, Inc., Murray South America, Inc., The Muhlenberg County Coal Co. and The Western Kentucky Coal Co., which operate mining complexes located in Ohio, West Virginia, Utah, Kentucky and Colombia.

Foresight Energy LP and Foresight Energy GP LLC, including their direct and indirect subsidiaries, as well as Murray Metallurgical Coal Holdings, LLC, Murray Eagle Mining, LLC, Murray Alabama Minerals, LLC, Murray Maple Eagle Coal, LLC, Murray Alabama Coal, LLC and Murray Oak Grove, LLC did not file voluntary petitions and are not part of the Company’s Chapter 11 cases.

According to the company, the restructuring agreement contemplates that substantially all of Murray Energy’s debt will be eliminated. The company said it has filed motions with the bankruptcy court that when granted will enable day-to-day operations to continue uninterrupted.

Murray Energy, the nation’s largest underground coal mining operation, produces about 76 million tons of coal annually, and holds 3 billion tons of coal reserves. The company employs nearly 7,000 people including, in the region, miners that work in mines in Belmont and Marshall counties.

United Mine Workers of America International President Cecil E. Roberts issued a statement Tuesday following Murray Energy’s announcement.

“Today’s filing by Murray Energy for Chapter 11 bankruptcy reorganization comes as no surprise. This day has been coming for some time. Coal production in this country continues to decline, due to the glut of natural gas on the market and continued government preference for gas and renewable energy to replace coal-fired power generation. Combined with a recent severe reduction in coal exports, these factors delivered a one-two punch that an over-extended Murray Energy could not withstand,” Roberts said.

“Now comes the part where workers and their families pay the price for corporate decision-making and governmental actions. Murray will file a motion in bankruptcy court to throw out its collective bargaining agreement with the union. It will seek to be relieved of its obligations to retirees, their dependents and widows. We have seen this sad act too many times before.”

Roberts said the UMWA has “high-powered legal, financial and communications teams in place that will fight to protect our members’ interests in the bankruptcy court.”

“I want our active members to know that this filing changes nothing as far as the current terms and conditions of employment. The collective bargaining agreement continues in full force until the bankruptcy court orders changes to it. Our retirees should understand that their health care will continue to be paid, at least until the bankruptcy process is completed. We continue our work in Congress to secure their health care and pensions,” Roberts added.