Restructurings

Restructurings , Legislation

PDVSA Begins US Trial over Claim Sanctions Prevented Debt Payments

PDVSA, in a bench trial before U.S. District Judge Louis Stanton, will present evidence it says shows attempts to pay were blocked by banks wary of sanctions.

September 21, 2021

Restructurings , Exploration & Production

Cenovus Energy Enters Into Restructuring Deal for Atlantic Assets

Cenovus, one of Canada's largest oil and gas producers, said it continued to progress towards its $10 billion net debt target, which it expected to achieve later this year.

September 9, 2021

Restructurings , Public Capital , People , Shale Plays

Gulfport Energy Taps Former QEP Leadership Following Bankruptcy

In addition to successfully completing its restructuring and exiting bankruptcy, Gulfport Energy also announced the retirement of its CEO David M. Wood, effective immediately.

May 18, 2021

Restructurings , Public Capital , Company Profiles , Technology

Valaris Emerges from Bankruptcy, Appoints New Seven-Member Board

The Valaris Group has successfully completed its financial restructuring and emerged from chapter 11 on April 30.

May 4, 2021

Restructurings , Public Capital , Drilling

Diamond Offshore Emerges from Bankruptcy, CEO Marc Edwards Retires

In connection with its emergence from Chapter 11, Diamond Offshore also announced that Marc Edwards has retired as chairman, president and CEO, effective immediately.

April 28, 2021

Restructurings , Shale Plays

Sundance Energy Emerges from Bankruptcy as Privately-held Independent E&P

Eagle Ford Shale producer Sundance Energy emerged from the Chapter 11 protection voluntarily initiated in early March after having eliminated over $250 million of funded debt obligations.

April 26, 2021

Restructurings , Midstream

Midstream Business: Sector Contends With a Producer Bankruptcy Wave

The midstream sector escaped 2020 with no bankruptcies but is struggling with sweeping counterparty risks if existing contracts are thrown out or renegotiated in E&P bankruptcy settlements.

April 20, 2021

Restructurings , Midstream

E&P Bankruptcies on Simmer in First Quarter

In a sign of possible attrition, there were no billion-dollar bankruptcies filed in the first quarter by oil and gas producers in North America, which hasn’t happened since third-quarter 2018, according to Texas-based law firm Haynes and Boone.

April 16, 2021

Restructurings , Trends

Oil and Gas Investor Post Bankruptcy Strategies: The Great Wipeout

In 2020, companies entered bankruptcy after a sudden plunge in oil and gas prices and, unlike the downturn six years ago, many emerged with nearly pristine balance sheets. But for what end?

April 13, 2021

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