Post Tagged with: "Bankruptcy"

Basic Energy Services Exits Chapter 11

Basic Energy Services Exits Chapter 11

Basic Energy Services emerges from bankruptcy with $125 million in new capital, and erases $775 million in debt

Fort Worth-based Basic Energy Services (ticker: BAS) announced this month that the company has successfully completed its prepackaged restructuring. The company will …

December 29, 2016 - 5:19 pm Closing Bell Story‎, Oil and Gas 360 Articles
More than 100 Oil and Gas Operators have Filed for Bankruptcy as of August

More than 100 Oil and Gas Operators have Filed for Bankruptcy as of August

Oil & Gas Bankruptcy Continues to Climb to $50.4 Billion in August

Three more companies joined the ranks of those that have filed for Chapter 11 bankruptcy protection since the fall in oil prices. The three companies had combined debt …

Energy Bankruptcies: We’ve only Seen a Third of Them

Energy Bankruptcies: We’ve only Seen a Third of Them

90 oil and gas operators with more than $60 billion in debt have already filed for bankruptcy: here’s what it’s like

Depressed oil prices that are unable to support heavy debt loads have pushed 90 oil and gas companies into …

Haynes and Boone Releases Latest Edition of Bankruptcy Monitor

Haynes and Boone Releases Latest Edition of Bankruptcy Monitor

Bankruptcy has been a word that has made denizens of the oil patch cringe in the last year and half. As oil price has declined, bankruptcies have stacked up. Fortunately for those following oil and gas companies, the ladies and …

August 5, 2016 - 5:58 pm Closing Bell Story‎, Oil and Gas 360 Articles
Say Goodbye to Hercules Offshore

Say Goodbye to Hercules Offshore

HERO Re-enters Chapter 11 with Plans to Dissolve the Company

Hercules Offshore (ticker: HERO) announced today that it has decided to return to Chapter 11 bankruptcy less than seven months after the company’s initial bankruptcy claim. Hercules plans to dissolve …

Halcon Resources Files for Prepackaged Chapter 11

Halcon Resources Files for Prepackaged Chapter 11

Halcon Resources announced on May 18, 2016, the company reached an agreement with shareholders and bondholders to enter into a pre-packaged Chapter 11 filing.

“The restructuring plan, if implemented, will result in the elimination of approximately $1.8 billion of debt …

SandRidge Energy and Breitburn Energy Partners File for Chapter 11

SandRidge Energy and Breitburn Energy Partners File for Chapter 11

SandRidge Energy and Breitburn Energy Partners became the latest companies to succumb to the market forces and file for Chapter 11 bankruptcy protection on Monday.

SandRidge Energy

SandRidge reached an agreement with the majority of its lenders and bondholders to …

Linn Energy Files, Pushing Oil & Gas Bankruptcies to $11.8 Billion this Week

Linn Energy Files, Pushing Oil & Gas Bankruptcies to $11.8 Billion this Week

Linn Energy files bankruptcy with $9.4 billion in debt on the balance sheet

The total dollar amount of oil and gas bankruptcies grow substantially this week when Linn Energy (Ticker: LINE) announced that it has filed for Chapter 11 on

May 12, 2016 - 6:49 pm Closing Bell Story‎, MLPs, Oil and Gas 360 Articles
Banks Becoming Increasingly Wary of Energy Defaults

Banks Becoming Increasingly Wary of Energy Defaults

Median Debt to EBITDA is 3.6 Times across 77 U.S. E&P Companies: EnerCom Analytics

It happened when ‘lower for longer’ went from being a popular catch phrase to bitter reality. Today, bankruptcy has become an increasingly common word across the …

Colorado Wattenberg Field: Preparing a horizontal drilling rig - Oil & Gas 360

Swift Energy Exits Chapter 11 after 115 Days

Swift Energy finalizes plan to forgive $905 million in debt following Chapter 11

Swift Energy announced today that the company is emerging from bankruptcy following the completion of its financial restructuring. Under the terms of the company’s plan to reorganize

TMS Pioneer Goodrich Petroleum Files Chapter 11 and Announces Plan for Restructuring

TMS Pioneer Goodrich Petroleum Files Chapter 11 and Announces Plan for Restructuring

On April 15, 2016, Goodrich Petroleum announced the company has filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The RSA and the bankruptcy proceeding will allow for the restructuring of the Company’s balance sheet, which will strengthen …

Why Did Southcross Holdings Exit Bankruptcy Two Weeks After Filing?

Why Did Southcross Holdings Exit Bankruptcy Two Weeks After Filing?

Private equity firms pump $170 million into Southcross Holdings LP

Poor economics driven by low oil prices is the harsh reality being faced by many operators since the end of 2014, forcing 42 companies to file for bankruptcy in 2015, …

April 15, 2016 - 9:55 am Closing Bell Story‎, Oil and Gas 360 Articles
Borrowing Base Availability by Company

Borrowing Base Availability by Company

How Much Borrowing Base will be Left after Redeterminations?

Bankruptcy and restructuring have become prevalent words in the oil and gas industry during the present price downturn. With spring borrowing base redeterminations already under way or quickly approaching, speculation is …

Could E&P Bankruptcy Destabilize Midstream MLPs?

Could E&P Bankruptcy Destabilize Midstream MLPs?

Bankrupt E&P companies looking to end pipeline agreements

The downturn in oil prices took a serious toll on the U.S. E&P market last year, with 42 companies filing for bankruptcy in 2015. Those companies’ total debt amounted to $17.85 billion

$17.85 Billion in Oil and Gas Bankruptcies in 2015

$17.85 Billion in Oil and Gas Bankruptcies in 2015

Swift Energy (ticker: SFYWQ) joined the 2015 group of oil and gas producers to file for bankruptcy on Dec. 31, making it the final oil and gas company to do so last year. Swift’s total debt amounted to $1.18 billion, …

Oil and Gas Bankruptcy Climbs to More than $16 Billion in 2015

Oil and Gas Bankruptcy Climbs to More than $16 Billion in 2015

*This story was corrected from an earlier version to reflect Energy & Exploration Partners’ debt level

Low oil prices push 41 energy companies into bankruptcy

Saying that 2015 has been a difficult year for the oil and gas sector would …