Post Tagged with: "chapter 11"

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
Halcón Resources Appoints New CFO as Restructuring Process Continues

Halcón Resources Appoints New CFO as Restructuring Process Continues

By Tyler Losier, Energy Reporter, Oil & Gas 360

Halcón Resources selects Ragan T. Altizer as its new EVP, CFO, treasurer
Halcón Resources Corporation (stock ticker: HKRS), currently undergoing Chapter 11 reorganization proceedings, has appointed Ragan T. Altizer as its

Source: Lonestar Resources

Energy Bankruptcies Back on the Rise in 2019

From The Houston Chronicle


After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019.

The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and …

Source: Bayou City Energy

Vanguard Emerges from Chapter 11 as Grizzly Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360

Vanguard Natural Resources completes financial restructuring, emerges as Grizzly Energy
Vanguard Natural Resources, a Houston-based onshore energy company, has successfully completed its Chapter 11 financial restructuring process, emerging as a new

Weatherford Files for Bankruptcy Protection

Weatherford Files for Bankruptcy Protection

From The Houston Chronicle


The oilfield services company Weatherford International filed for Chapter 11 bankruptcy protection Monday, after struggling to assimilate the companies it bought during a quest for growth, taking …

Source: EXCO Resources

EXCO Resources Completes Financial Restructuring

EXCO Resources, Inc. Successfully Completes Financial Restructuring

Source: Indianaaffairs.gov

Cambrian Coal Files for Voluntary Chapter 11

Cambrian Coal Elected to File Voluntary Petitions for Relief Under Chapter 11 on June 16, 2019 and Obtains Financing for Its Restructuring

June 20, 2019 - 6:00 am Closing Bell Story‎, Finance, Press Releases
Courtesy of RSP Permian

Legacy Reserves Inc. Files For Chapter 11

Legacy Reserves Inc. Files For Chapter 11 Protection To Facilitate Negotiated Financial Restructuring

June 19, 2019 - 6:00 am Closing Bell Story‎, Finance, Press Releases
Source: Legacy Reserves

Legacy Reserves Reaches Agreement With Lenders On Terms Of Financial Restructuring

Legacy Reserves Inc. Reaches Agreement With RBL And Second Lien Lenders On Terms Of Financial Restructuring

Source White Star Petroleum

Another Chapter 11: White Star Petroleum to Explore Strategic Alternatives

By Tyler Losier, Energy Reporter, Oil & Gas 360

 
White Star receives $28.5 million in committed financing
White Star Petroleum, LLC, a privately held independent E&P headquartered in Oklahoma City, is exploring strategic alternatives after commencing voluntary Chapter 11

Jones Energy Logo

Jones Energy Emerges from Bankruptcy with $225 Million Borrowing Base Agreement

By Tyler Losier, Energy Reporter, Oil & Gas 360

 

On May 17, Jones Energy, Inc. (stock ticker: JONEQ) emerged from Chapter 11 after satisfying the requirements of the company’s pre-packaged plan.

The announcement came 33 days after the company

Sign of the Times: Coal Giant Cloud Peak Files for Chapter 11

Sign of the Times: Coal Giant Cloud Peak Files for Chapter 11

From the Casper Star Tribune

Cloud Peak Energy, the coal giant that operates two Wyoming mines, filed for bankruptcy Friday amid mounting debt and declining demand.

The filing follows months of troubling signs for the Powder River Basin operator, which …

May 13, 2019 - 6:11 am Closing Bell Story‎, Energy News
Jones Energy Logo

After Receiving Court Confirmation of Prepackaged Plan, Jones Energy Seeks to Emerge from Chapter 11 May 17

Jones Energy, Inc. Announces Court Confirmation of Prepackaged Plan of Reorganization

Jones Energy Overview, Feb. 2018

Jones Energy Files for Chapter 11 Protection

Jones Energy, Inc. Files for Chapter 11 Protection

Nighthawk Energy: Production and Water Flood Update - Oil & Gas 360

Nighthawk Energy U.S. Subsidiaries File Chapter 11

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces that, on 15 May 2018, its U.S. operating subsidiary, Nighthawk Production LLC (“Production”), and subsidiary OilQuest LLC (“OilQuest”), have filed voluntary petitions for reorganization under …

May 18, 2018 - 12:03 pm Closing Bell Story‎, Finance
Evolution Petroleum Acquires Assets from Bankrupt Enduro; Evolution CEO Randy Keys to Retire

Evolution Petroleum Acquires Assets from Bankrupt Enduro; Evolution CEO Randy Keys to Retire

Evolution Petroleum Corporation (ticker: EPM) will acquire certain oil and gas assets from an affiliate of Enduro Resource Partners LLC for a purchase price of $27.5 million. Evolution intends to fund the closing of this transaction primarily with cash on …

Oilfield Services and Midstream Bankruptcies

Oilfield Services and Midstream Bankruptcies

Oilfield services bankruptcies since early 2015 have reached $58.5 billion: Haynes and Boone

less damage to midstream sector

Oilfield services

International corporate law firm Haynes and Boone has been tracking and reporting industry developments in oilfield service restructurings. The firm’s …

E&P Bankruptcy Filings Down 67% in 2017: Haynes and Boone

E&P Bankruptcy Filings Down 67% in 2017: Haynes and Boone

Debt involved in oil and gas company bankruptcies since 2015 totals $90 billion

International corporate law firm Haynes and Boone has tracked 144 North American oil and gas producers that have filed for bankruptcy since the beginning of 2015.

E&P Bankruptcy Filings Down 67% in 2017: Haynes and Boone

These …

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
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 …

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 …