Bankruptcy

Lonestar Resources US Inc. Announces Restructuring Support Agreement

Lonestar Resources US Inc. Announces Restructuring Support Agreement

Yahoo / Loanstar Resources


Lonestar Resources US Inc. (the “Company” or “Lonestar”) (NASDAQ: LONE) today announced that it and certain of its direct and indirect wholly-owned domestic subsidiaries (collectively with the Company, the “Debtors”) have entered into a Restructuring Support …

Delphi Energy Corp. Announces Court Sanction of Plan of Compromise and Arrangement

Delphi Energy Corp. Announces Court Sanction of Plan of Compromise and Arrangement

CALGARY, Alberta, Sept. 11, 2020 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“ Delphi &…

Unit Corporation Successfully Completes Financial Restructuring

Unit Corporation Successfully Completes Financial Restructuring

Emerges from Chapter 11 and Appoints New Board of Directors Unit Corporation (Company)…

Denbury Resources Pre-Packaged Plan Confirmed By Court

Denbury Resources Pre-Packaged Plan Confirmed By Court

360 Feed Wire


Expects to Emerge from Chapter 11 in Mid-September with Strengthened Balance Sheet

Operations Continuing in Normal Course

PLANO, Texas, Sept. 03, 2020 (GLOBE NEWSWIRE) — Denbury Resources Inc. (OTC Pink: DNRCQ) (“Denbury” or the “Company”) today announced …

September 3, 2020 - 6:46 am Bankruptcy, Exploration and Production (E&P)
Whiting Petroleum Completes Reorganization

Whiting Petroleum Completes Reorganization

Approximate $3.0 Billion Reduction in Funded Debt; Trading of New Common Stock to Commence …

September 1, 2020 - 11:45 am Bankruptcy, Press Releases
Calfrac Halts Wilks Brothers’ Attempt to Seek Insolvency; Obtains U.S. Recognition for CBCA Recapitalization Transaction Proceeding

Calfrac Halts Wilks Brothers’ Attempt to Seek Insolvency; Obtains U.S. Recognition for CBCA Recapitalization Transaction Proceeding

Calfrac Halts Wilks Brothers’ Attempt to Seek Insolvency; Obtains U.S. Recognition for CBC…

September 1, 2020 - 5:06 am Bankruptcy, Oilfield Services, Press Releases
About 150 more North American E&Ps will need Chapter 11 protection by end-2022

About 150 more North American E&Ps will need Chapter 11 protection by end-2022

Oil&Gas


So far this year 32 E&Ps have already filed for Chapter 11, recording a cumulative debt of about $40 billion

The Covid-19 pandemic has added severe financial strain on a North American upstream industry that was already reeling under …

Source: nasdaq.com

Shale driller Chaparral Energy files for bankruptcy due to pandemic woes

Reuters


Oklahoma shale driller Chaparral Energy Inc filed for Chapter 11 bankruptcy protection on Sunday, the latest U.S. energy sector casualty in recent months as COVID-19 crushes oil demand.

The company’s assets and liabilities were in the range of $500 …

Chaparral Energy Executes Restructuring Support Agreement for Comprehensive Balance Sheet Restructuring, Launches Solicitation for Prepackaged Plan of Reorganization and Voluntarily Files for Chapter 11

Chaparral Energy Executes Restructuring Support Agreement for Comprehensive Balance Sheet Restructuring, Launches Solicitation for Prepackaged Plan of Reorganization and Voluntarily Files for Chapter 11

OKLAHOMA CITY, Aug. 17, 2020 (GLOBE NEWSWIRE) — Chaparral Energy, Inc. (the “Compan…

Fieldwood Energy LLC Commences Voluntary Chapter 11 Process

Fieldwood Energy LLC Commences Voluntary Chapter 11 Process

HOUSTON , Aug. 4, 2020 /PRNewswire/ — Fieldwood Energy LLC and certain affiliates (…

Longview Power Emerges From Bankruptcy

MAIDSVILLE, W. Va. , Aug. 3, 2020 /PRNewswire/ — Longview Power (the “Company”) emerge…

August 3, 2020 - 9:20 am Bankruptcy, Coal News, Finance, Press Releases
Bankruptcy filings by US energy producers at four-year high

Bankruptcy filings by US energy producers at four-year high

NBusiness


Bankruptcy filings by US oil and gas producers rose to a four-year high in the second quarter of 2020 due to the downturn caused by the coronavirus pandemic, according to Oslo-based Rystad Energy.

“Chapter 11 filings for US E&P …

August 2, 2020 - 3:20 pm Bankruptcy, Economy
Noble Corporation plc Announces Comprehensive Financial Restructuring And Deleveraging Transaction

Noble Corporation plc Announces Comprehensive Financial Restructuring And Deleveraging Transaction

LONDON , July 31, 2020 /PRNewswire/ — Noble Corporation plc (NYSE: NE) (“Noble” or …

Source: Forbes

Chapter 11 Bankruptcy statistics on U.S. shale patch are not the best barometer to gauge industry’s future

Forbes


The oil and gas industry’s most recent cyclical downturn, triggered by the Covid-19 global pandemic in March, has yet again invited close scrutiny of the U.S. shale industry. At one point, prior to the turn of events, shale was …

Denbury Resources Enters into Restructuring Support Agreement for Pre-packaged Plan to Strengthen Its Balance Sheet and Reduce Debt by $2.1 Billion

Denbury Resources Enters into Restructuring Support Agreement for Pre-packaged Plan to Strengthen Its Balance Sheet and Reduce Debt by $2.1 Billion

Intends to File Voluntary Chapter 11 Petitions to Implement Financial Restructuring …

July 29, 2020 - 6:06 am Bankruptcy, Press Releases
Rosehill Resources Inc. and Rosehill Operating Company, LLC File Voluntary Bankruptcy Petitions

Rosehill Resources Inc. and Rosehill Operating Company, LLC File Voluntary Bankruptcy Petitions

360 Feed Wire


HOUSTON, July 27, 2020 (GLOBE NEWSWIRE) — Rosehill Resources Inc. (NASDAQ:ROSE, ROSEW, ROSEU) (the “Company”) and Rosehill Operating Company, LLC (“Rosehill Operating” and together with the Company, “Rosehill”) announced today that they have commenced voluntary Chapter 11 …

July 27, 2020 - 6:26 am Bankruptcy, Energy News, Press Releases
California Resources Corporation Announces Additional Support for Restructuring Plan

California Resources Corporation Announces Additional Support for Restructuring Plan

Company Files Plan of Reorganization Paying General Unsecured Claims in Full First …

Enverus  – Andrew Dittmar, Senior M&A Analyst, provides information about the Chevron’s acquisition of  Noble Energy $13billion

Enverus – Andrew Dittmar, Senior M&A Analyst, provides information about the Chevron’s acquisition of Noble Energy $13billion

360 FeedWire


Chevron is acquiring Noble Energy in an all-stock deal for $10.38 per share (total equity value of $5 billion) and a total enterprise value of $13 billion. Below is commentary from Enverus Senior M&A Analyst Andrew Dittmar.

“Noble …

CARBO Logo.  (PRNewsFoto/CARBO)

CARBO Ceramics Emerges from Chapter 11 Under New Ownership, Successfully Completes Financial Restructuring

HOUSTON , July 20, 2020 /PRNewswire/ — CARBO Ceramics Inc. (“CARBO” or “the Company”) an…

July 20, 2020 - 11:09 am Bankruptcy, Finance, Press Releases
Bruin E&P Partners, LLC Notice of Comprehensive Prepackaged Restructuring Transaction

Bruin E&P Partners, LLC Notice of Comprehensive Prepackaged Restructuring Transaction

HOUSTON , July 17, 2020 /PRNewswire/ — Bruin E&P Partners, LLC and its subsidia…

July 17, 2020 - 5:18 am Bankruptcy, Press Releases
Bruin E&P Partners, LLC Notice of Comprehensive Prepackaged Restructuring Transaction

Bruin E&P Partners, LLC Notice of Comprehensive Prepackaged Restructuring Transaction

HOUSTON , July 17, 2020 /PRNewswire/ — Bruin E&P Partners, LLC and its subsidia…

California Resources Corporation agrees on comprehensive balance sheet restructuring with key creditors

California Resources Corporation agrees on comprehensive balance sheet restructuring with key creditors

Oil and Gas 360


Transaction to be implemented in pre-arranged Chapter 11 case

Finally resolves leveraged capital structure inherited from 2014 spin-off

  • Pre-arranged restructuring will eliminate over $5 billion of debt and mezzanine equity interest and consolidate CRC’s ownership of
Just Energy Announces Management Slate of Directors to be Appointed in Connection with the Recapitalization Transaction, and the Retirement of Rebecca MacDonald

Just Energy Announces Management Slate of Directors to be Appointed in Connection with the Recapitalization Transaction, and the Retirement of Rebecca MacDonald

TORONTO, July 16, 2020 (GLOBE NEWSWIRE) — Just Energy Group Inc. (“Just Energy …

July 16, 2020 - 6:05 am Bankruptcy, Canada, Canada News, Press Releases
California Resources Corporation Agrees on Comprehensive Balance Sheet Restructuring with Key Creditors

California Resources Corporation Agrees on Comprehensive Balance Sheet Restructuring with Key Creditors

Transaction to be implemented in pre-arranged Chapter 11 case Finally resolves leve…

Hi-Crush Inc. Enters into Restructuring Support Agreement with Unsecured Noteholders

Hi-Crush Inc. Enters into Restructuring Support Agreement with Unsecured Noteholders

HOUSTON , July 13, 2020 /PRNewswire/ — Hi-Crush Inc. (NYSE: HCR), (“Hi-Crush” or th…

July 13, 2020 - 12:42 pm Bankruptcy, Press Releases

Delphi Energy Corp. Announces Receipt of Creditors’ Meetings Order

CALGARY, Alberta, July 10, 2020 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“ Delphi …

July 11, 2020 - 5:34 am Bankruptcy, Canada News, Press Releases
Delphi Energy Corp. Announces Proposed Plan of Compromise and Arrangement and $22.9 Million Capital Investment by Kiwetinohk Resources Corp.

Delphi Energy Corp. Announces Proposed Plan of Compromise and Arrangement and $22.9 Million Capital Investment by Kiwetinohk Resources Corp.

Delphi Energy Corp. Announces Proposed Plan of Compromise and Arrangement and $22.9 Millio…

July 6, 2020 - 12:58 pm Bankruptcy, Borrowing Base, Canada, Canada News, Press Releases
Sanchez Energy Successfully Completes Financial Restructuring; Emerges as Mesquite Energy, Inc.

Sanchez Energy Successfully Completes Financial Restructuring; Emerges as Mesquite Energy, Inc.

HOUSTON, June 30, 2020 (GLOBE NEWSWIRE) — Sanchez Energy Corporation today announced that it has completed its financial restructuring and emerged from Chapter 11 as a privately held corporation under the name Mesquite Energy, Inc. (“Mesquite Energy” or the “Company”).…

June 30, 2020 - 10:11 pm Bankruptcy, Closing Bell Story‎, Press Releases

Foresight Announces Implementation of Reorganization Plan

Foresight Energy LP (“Old Foresight”) announced today that it has consummated its chapter 11 plan of reorganization (the “Plan”).

June 30, 2020 - 9:45 pm Bankruptcy, Coal News, Press Releases

Lilis Energy Receives Delisting Notice From NYSE American Transitions to OTC Pink Marketplace

FORT WORTH, Texas, June 30, 2020 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (NYSE American: LLEX; OTC Pink: LLEXQ) (the “Company”), an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that …

June 30, 2020 - 7:40 pm Bankruptcy, Press Releases