Bankruptcy

Source: Reuters

Texas electricity firm files for bankruptcy citing $1.8 billion in claims from grid operator

Reuters


HOUSTON- Texas’s largest and oldest electric power cooperative on Monday filed for bankruptcy protection in federal court in Houston, citing a disputed $1.8 billion bill from the state’s grid operator.

Brazos Electric Power Cooperative Inc, which supplies electricity to …

Source: Reuters

Chesapeake Energy Corporation successfully emerges from financial restructuring

Oil and Gas 360


OKLAHOMA CITY, Feb. 9, 2021 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ: CHK) announced today that it has successfully concluded its restructuring process and emerged from Chapter 11, satisfying all conditions precedent under its Plan …

Source: Reuters

Chesapeake Energy cuts 15% of workers as it emerges from bankruptcy

Reuters


U.S. shale oil and gas producer Chesapeake Energy Corp plans to cut 15% of its workforce, an email sent to employees revealed, as it closes on new financing that will allow it to emerge from bankruptcy court protection next …

Shale gas pioneer Chesapeake Energy worth $5.13 billion on bankruptcy exit -U.S. judge

Shale gas pioneer Chesapeake Energy worth $5.13 billion on bankruptcy exit -U.S. judge

Reuters


HOUSTON – Chesapeake Energy Corp’s value has soared since its June bankruptcy filing, the U.S. judge overseeing the natural gas producer’s trial indicated, and is worth $5.13 billion, far above the shale gas pioneer’s estimate.

Creditors have offered sharply …

UTEX Industries Emerges from Chapter 11 with $700 Million Less Debt, Additional Financing, and Significantly Strengthened Balance Sheet

UTEX Industries Emerges from Chapter 11 with $700 Million Less Debt, Additional Financing, and Significantly Strengthened Balance Sheet

UTEX Industries Emerges from Chapter 11 with $700 Million Less Debt, Additional Financing…

December 3, 2020 - 6:41 pm Bankruptcy, Press Releases
Western Anadarko Basin Assets Formerly Known and Managed as FourPoint Energy are Renamed and Merged into new Maverick Natural Resources Subsidiary Unbridled Resources

Western Anadarko Basin Assets Formerly Known and Managed as FourPoint Energy are Renamed and Merged into new Maverick Natural Resources Subsidiary Unbridled Resources

360 Feed Wire

Denver, December 2 – FourPoint Energy, LLC (“FourPoint or the “Company”) announced today the Company and its Western Anadarko Basin Assets have been renamed Unbridled Resources, LLC (“Unbridled”) and merged with a subsidiary of Maverick Natural Resources …

December 2, 2020 - 8:01 am Bankruptcy, Corporate Governance, Press Releases
Lonestar Resources US Inc. Successfully Completes Restructuring

Lonestar Resources US Inc. Successfully Completes Restructuring

Lonestar Resources US Inc. (the “Company” or “Lonestar”) to…

December 1, 2020 - 6:38 am Bankruptcy, Press Releases
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Source Energy Obtains Court Approval of its Recapitalization Transaction

(TheNewswire) Calgary, Alberta – TheNewsw…

November 27, 2020 - 5:16 pm Bankruptcy, Press Releases
Williams Announces Global Resolution with Chesapeake

Williams Announces Global Resolution with Chesapeake

Negotiated resolution reaffirms the value of Williams’ midstream infrastructur…

November 23, 2020 - 7:15 am Bankruptcy, Energy News, Finance, Midstream, Press Releases
FTS International Completes Financial Restructuring

FTS International Completes Financial Restructuring

Trading of New Common Stock to Commence on NYSE American under Ticker “FTSI…

November 20, 2020 - 4:49 am Bankruptcy, Oilfield Services, Press Releases
Oasis Petroleum Successfully Completes Financial Restructuring

Oasis Petroleum Successfully Completes Financial Restructuring

Oasis Petroleum Successfully Completes Financial Restructuring Emerges from Cha…

November 20, 2020 - 4:47 am Bankruptcy, Press Releases
Gulfport Enters Into Restructuring Support Agreement for Pre-Arranged Plan of Reorganization to Reduce Debt by Approximately $1.25 Billion and Significantly Improve its Cost Structure

Gulfport Enters Into Restructuring Support Agreement for Pre-Arranged Plan of Reorganization to Reduce Debt by Approximately $1.25 Billion and Significantly Improve its Cost Structure

360 Feed Wire

Commences Voluntary Chapter 11 Process to Implement Financial Restructuring

Obtains Commitment for $105 Million in New Money Debtor-In-Possession Financing to Support Continued Ordinary Course Operations, Including Payments for Wages and Benefits, Vendors and Suppliers

OKLAHOMA CITY, Nov. …

Lilis Energy Announces Ameredev Texas LLC as Winning Bidder for Substantially All of Its Assets in Competitive Auction as Part of Chapter 11 Process

Lilis Energy Announces Ameredev Texas LLC as Winning Bidder for Substantially All of Its Assets in Competitive Auction as Part of Chapter 11 Process

360 Feedwire

FORT WORTH, Texas, Nov. 08, 2020 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (OTC: LLEXQ) (the “Company”), an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico, today announced that, following a …

Calfrac Obtains Final Order Approving the Amended Recapitalization Transaction

Calfrac Obtains Final Order Approving the Amended Recapitalization Transaction

Calfrac Obtains Final Order Approving the Amended Recapitalization Transaction …

November 2, 2020 - 6:00 am Bankruptcy, Oilfield Services, Press Releases
Calfrac Obtains Final Order Approving the Amended Recapitalization Transaction

Calfrac Obtains Final Order Approving the Amended Recapitalization Transaction

Calfrac Obtains Final Order Approving the Amended Recapitalization Transaction …

November 2, 2020 - 4:04 am Bankruptcy, Canada News, Finance, Fracing, Press Releases

Yuma Energy Chapter 11 Bankruptcy Proceedings Converted to Chapter 7 Liquidation

Chapter 11 Bankruptcy Proceedings Converted to Chapter 7 Liquidation PR Newswir…

October 20, 2020 - 8:37 pm Bankruptcy, Press Releases

Yuma Energy, Inc. Chapter 11 Bankruptcy Proceedings Converted to Chapter 7 Liquidation

Chapter 11 Bankruptcy Proceedings Converted to Chapter 7 Liquidation PR Newswir…

October 20, 2020 - 7:23 pm Bankruptcy, Finance, Press Releases
Source: oklahoman.com

Gulport Energy misses interest payment, enters 30 day grace period

OAG360 Publishers Notes: Gulfport skips 17.39 MM bond payment, entering a 30-day grace period…OAG360 analysts expect an announce shortly Chp.11 restructuring.

Bloomberg

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Gulfport Energy didn’t make a payment due Oct. 15 on some of its debt while it …

October 16, 2020 - 7:44 am Bankruptcy, Exploration and Production (E&P)
Source: Forbes

As oil bankruptcies surge, vulture investors start their long feast

Forbes


Bankruptcies abound in America’s oilpatch. So far this year 40 oil exploration and production companies have gone under, according to analysis from lawfirm Haynes & Boone, involving $54 billion in debt. The biggest failure so far, with $11.8 …

October 15, 2020 - 2:30 pm Bankruptcy, Closing Bell Story‎, Crude Oil News
Chaparral Energy Successfully Completes Financial Restructuring and Raises $35 Million in New Capital

Chaparral Energy Successfully Completes Financial Restructuring and Raises $35 Million in New Capital

OKLAHOMA CITY, Oct. 14, 2020 (GLOBE NEWSWIRE) — Chaparral Energy, Inc. (the “Compan…

October 15, 2020 - 4:51 am Bankruptcy, Finance, Press Releases
Hi-Crush Inc. Successfully Completes Restructuring, Emerges From Chapter 11 Bankruptcy

Hi-Crush Inc. Successfully Completes Restructuring, Emerges From Chapter 11 Bankruptcy

Hi-Crush Inc. Successfully Completes Restructuring, Emerges From Chapter 11 Bankruptcy …

October 10, 2020 - 4:31 am Bankruptcy, Press Releases
Calfrac Well Services Ltd. – Open Letter to Stakeholders

Calfrac Well Services Ltd. – Open Letter to Stakeholders

Calfrac Well Services Ltd. – Open Letter to Stakeholders Canada NewsWire CA…

October 5, 2020 - 7:54 am Bankruptcy, Oilfield Services, Press Releases
EP Energy Corporation Successfully Completes Financial Restructuring

EP Energy Corporation Successfully Completes Financial Restructuring

EP Energy Corporation Successfully Completes Financial Restructuring Reduces Pr…

Source: Reuters

Shale bankruptcies pile on, Lonestar latest to succumb to weak demand

Reuters


Lonestar Resources US Inc LONE.O filed for Chapter 11 bankruptcy protection on Thursday, joining a clutch of shale companies that have succumbed to weak crude prices as COVID-19 pandemic crimps fuel demand.

Lonestar, which operates in Texas’ Eagle Ford …

October 1, 2020 - 12:50 pm Bankruptcy, Closing Bell Story‎, Crude Oil News, Energy News
Bakken Shale producer Oasis Petroleum files Chapter 11, looks to reduce debt by $1.4 billion

Bakken Shale producer Oasis Petroleum files Chapter 11, looks to reduce debt by $1.4 billion

OAG360 Publishers Note: Oasis ($OAS) becomes the latest shale producer to file for Chapter 11 protection under the US bankruptcy code. According to SEC files, 100% of RBL lenders and 52% of note holders back this plan. Unsecured note holders

September 30, 2020 - 8:12 am Bankruptcy, Exploration and Production (E&P)

Bouchard Transportation Co., Inc. To Restructure Through Chapter 11 Proceeding

Bouchard Transportation Co., Inc. To Restructure Through Chapter 11 Proceeding …

September 28, 2020 - 8:47 pm Bankruptcy, Press Releases
Changes to Calfrac Management Transaction Fall Woefully Short of Shareholder Recoveries Under Wilks Premium Offer

Changes to Calfrac Management Transaction Fall Woefully Short of Shareholder Recoveries Under Wilks Premium Offer

Changes to Calfrac Management Transaction Fall Woefully Short of Shareholder Recoveries U…

September 25, 2020 - 6:00 am Bankruptcy, Canada, Canada News, Press Releases
Hi-Crush Inc. Announces Successful Confirmation of Plan of Reorganization

Hi-Crush Inc. Announces Successful Confirmation of Plan of Reorganization

Hi-Crush Inc. Announces Successful Confirmation of Plan of Reorganization PR Ne…

September 24, 2020 - 5:29 am Bankruptcy, Finance, Oilfield Services, Press Releases
Denbury Successfully Completes Financial Restructuring

Denbury Successfully Completes Financial Restructuring

Emerges from Chapter 11 Well-Positioned for Long-Term Success Moves Forward as Str…

September 19, 2020 - 6:21 am Bankruptcy, Exploration and Production (E&P), Press Releases
Source: Reuters

Oasis skips latest interest payment; enters forbearance

OAG360 Publishers Note: Interest payment of 30mm was skipped, and now enters a 30 day forbearance period which ends Oct 15. As of Q2 2020 filings, OAS had around 77 million in cash on hand

Bloomberg Law


Oasis Petroleum …

September 18, 2020 - 6:06 am Bankruptcy