Restructurings

Restructurings , Public Capital , Shale Plays , Mergers

HighPoint Resources Receives Quick Approval for Prepackaged Bankruptcy Plan

The prepackaged plan includes approval of Denver-based HighPoint Resources’ pending $376 million merger with Bonanza Creek Energy Inc., which the companies had agreed to last November.

March 22, 2021

Restructurings , Public Capital , Exploration & Production , Shale Plays

DJ Basin Operator HighPoint Resources Files for Chapter 11 Bankruptcy

HighPoint Resources Corp. has filed voluntary petitions under Chapter 11 of the Bankruptcy Code on March 14 in the United States Bankruptcy Court for the District of Delaware.

March 15, 2021

Restructurings , Investment , Digital Oilfield

McDermott Completes Minority Investment in Lummus Technology

McDermott International Ltd. has invested in Lummus Technology Holdings I LLC, a holding company of Lummus Technology, on March 8.

March 9, 2021

Restructurings , Drilling , Subsea

Norway’s Seadrill Writes Down $2.9 Billion on Its Oil Rigs

Offshore drilling rig contractor Seadrill said on March 4 it had taken an additional $2.9 billion non-cash impairment on its assets due to a bleak outlook for the sector, which has reduced demand for its drilling rigs.

March 4, 2021

Restructurings , People

Grant Thornton Expands Oil and Gas Restructuring Services in Firm’s Houston Office

Based in Houston, Loretta Cross and John Baumgartner join Grant Thornton as managing directors who will be part of the firm’s strategy and transactions practice.

February 19, 2021

Restructurings , Public Capital , Exploration & Production , Emissions , Shale Plays

Chesapeake Energy Emerges from Bankruptcy Following ‘Business Reset’

Alongside its emergence from bankruptcy, Chesapeake Energy also unveiled a commitment to achieve net-zero greenhouse gas  direct emissions by 2035 among other environmental targets.

February 9, 2021

Restructurings , Public Capital , Exploration & Production , Shale Plays

Extraction Oil & Gas Emerges from Bankruptcy with Tom Tyree as CEO

Extraction Oil & Gas also instituted a new governance model that strives for “environmental leadership through low-impact operations, emission reductions and reporting,” says the company’s new chairman, Benjamin Dell.

January 22, 2021

Restructurings , Public Capital , Exploration & Production , Shale Plays , Gathering & Processing

NGL Energy Partners Provides Update on Extraction Bankruptcy

Extraction Oil & Gas is a customer of Grand Mesa Pipeline, a subsidiary of NGL Energy Partners that provides takeaway capacity for crude oil producers in the D-J Basin where Extraction’s operations are focused.

January 19, 2021

Restructurings , Public Capital , Exploration & Production , Shale Plays

Chesapeake Energy Bankruptcy Plan Giving Lenders Control Approved by US Judge

The bankruptcy plan will allow Chesapeake Energy to emerge "a stronger and more competitive enterprise," spokesman Gordon Pennoyer said.

January 14, 2021

Restructurings , Public Capital , Exploration & Production , Shale Plays

Chesapeake Energy Worth $5.13 Billion on Bankruptcy Exit, Judge Says

Chesapeake Energy's value has soared since its June bankruptcy filing, the U.S. judge overseeing the natural gas producer's trial indicated, and is worth $5.13 billion, far above the shale gas pioneer's estimate.

January 11, 2021