Legacy Reserves Reaches Agreement With Lenders On Terms Of Financial Restructuring
June 11, 2019
Legacy Reserves Inc. Reaches Agreement With RBL And Second Lien Lenders On Terms Of Financial Restructuring
Another Chapter 11: White Star Petroleum to Explore Strategic Alternatives
May 28, 2019
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 with the support of its primary secured creditors. The company received $28.5 million in committed “debtor-in possession” (DIP) financing to
Jones Energy Emerges from Bankruptcy with $225 Million Borrowing Base Agreement
May 21, 2019
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 filed for bankruptcy protection, and less than two weeks after the U.S. Bankruptcy Court for the Southern District of Texas
Sign of the Times: Coal Giant Cloud Peak Files for Chapter 11
May 13, 2019
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 for a time avoided the economic difficulties of its competitors but had of late experienced growing financial challenges as the market
After Receiving Court Confirmation of Prepackaged Plan, Jones Energy Seeks to Emerge from Chapter 11 May 17
May 7, 2019
Jones Energy, Inc. Announces Court Confirmation of Prepackaged Plan of Reorganization
Jones Energy Files for Chapter 11 Protection
April 16, 2019
Jones Energy, Inc. Files for Chapter 11 Protection
Nighthawk Energy U.S. Subsidiaries File Chapter 11
May 18, 2018
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 Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). With those
Evolution Petroleum Acquires Assets from Bankrupt Enduro; Evolution CEO Randy Keys to Retire
May 16, 2018
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 hand. According to Evolution, the agreement includes: A diversified package of producing properties in two primary areas: Permian Basin (approximately
Oilfield Services and Midstream Bankruptcies
April 12, 2018
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 research includes details on 167 bankruptcies filed since the beginning of 2015, including secured and unsecured debt totals for each
E&P Bankruptcy Filings Down 67% in 2017: Haynes and Boone
April 11, 2018
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. These bankruptcies, including Chapter 7, Chapter 11, Chapter 15 and Canadian cases, involve approximately $90.2 billion in cumulative secured and unsecured
Basic Energy Services Exits Chapter 11
December 29, 2016
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 exit Chapter 11 with $125 million in new capital, and with its debt level reduced by $775 million, according to
Halcon Resources Files for Prepackaged Chapter 11
May 19, 2016
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 and approximately $222 million of Preferred Equity, and will reduce the company’s ongoing annual interest burden by more than $200
