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.