Public Capital

Restructurings , Public Capital , Exploration & Production , Shale Plays

Rosehill Resources to Join Growing Number of E&P Bankruptcies

“After exploring all strategic and financial options available to Rosehill,” CEO David French said the company agreed to a restructuring plan with its major creditors, which includes filing for Chapter 11 bankruptcy, .

July 3, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Exxon Mobil Signals Second Quarterly Loss in a Row

Exxon Mobil last quarter cut oil production by up to 400,000 bbl/d and capex by 30%, much of it in its shale business.

July 2, 2020

Restructurings , Public Capital , Shale Plays

Shale Drillers Squeezed as Banks Tighten Credit after Oil Crash

So far in the spring season of redeterminations, the total borrowing base for three dozen publicly listed North American oil companies has been slashed by $7.5 billion, according to a Reuters analysis.

July 2, 2020

Restructurings , Public Capital , Exploration & Production , Crude Oil

From Oil and Gas Investor Editor-in-Chief: The Great Awakening

Following a hurricane-like second quarter, the good news is the third quarter has arrived, and the oil and gas industry is at work cleaning up debris and trying to find a sense of normalcy. The questions are in what order, and will the calm winds last?

July 1, 2020

Restructurings , Public Capital , Exploration & Production , Shale Plays

Sanchez Energy Emerges from Bankruptcy with New Name, Leadership

Following its restructuring, the company is dropping its ties to the Sanchez name, which dates back to the founding of Sanchez Oil & Gas Corp. by father and son—A. R. Sanchez Sr. and  A. R. Sanchez Jr.—in 1972.

July 1, 2020

Public Capital , Exploration & Production

ConocoPhillips to Revive Shut-in Oil Production in Lower 48

ConocoPhillips, the world's largest independent oil and gas producer, had announced the biggest cuts by any North American producer in April, reducing its output by 460,000 bbl/d by June.

July 1, 2020

Public Capital , Shale Plays

Harold Hamm Boosts Holdings in Continental Resources

Harold Hamm said increasing his holdings in Continental Resources stock underscored his confidence in the company, the value of which he believes is currently undervalued due to the COVID-19 pandemic.

June 30, 2020

Public Capital

Shell to Write Down Up to $22 Billion After Coronavirus Hit

The Anglo-Dutch company has already been preparing a major overhaul after CEO Ben van Beurden laid out plans in April to reduce Shell's greenhouse gas emissions to net zero by 2050.

June 30, 2020

Restructurings , Public Capital , Exploration & Production , Infrastructure , Shale Plays , Midstream

Bankrupt Chesapeake Asks to Cancel Pipeline Contracts, Sets Drilling Cuts

Chesapeake Energy separately said in a filing it plans to operate six to eight drilling rigs for the next two years, about half the 14 rigs active on average in the first quarter, as it battles a historic downturn in oil prices.

June 29, 2020

Restructurings , Public Capital , Shale Plays

Permian Basin Operator Lilis Energy Succumbs to Bankruptcy

The restructuring is expected to reduce Lilis Energy debt obligations by more than $34.9 million, rightsizing its bank indebtedness for future operations focused in the Permian Basin.

June 29, 2020