Restructurings

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

Restructurings , Public Capital

Default Warning as US Oil Industry’s Financial Woes Persist

Fitch says the U.S. oil and gas industry could account for one-third of junk bond defaults in 2021.

January 4, 2021

Restructurings , People , Exploration & Production

Texas Producer MD America Energy Promotes Mike Dye to CEO Following Bankruptcy

Mike Dye, who most recently served as CFO of the Fort Worth, Texas-based company, brings more than 20 years of oil and gas industry experience and 10 years of banking experience to the role.

December 30, 2020

Restructurings , Exploration & Production , Shale Plays , Acquisitions & Divestitures

Ameredev Closes Deal for Lilis Energy’s Permian Basin Assets

Oil and gas producer Lilis Energy to exit into the ether following the sale of its roughly 20,000-acre position in the Permian Basin through a court-supervised sales process.

December 8, 2020

Restructurings , Public Capital , Technology

Superior Energy Services to Swap $1.3 Billion Debt in Pre-Packaged Chapter 11

Houston-based Superior Energy Services reached an agreement with about 85% of its $1.3 billion senior unsecured notes for a reorganization plan that it said would eliminate all its funded debt and related interest costs.

December 7, 2020

Restructurings

Key to Surviving Oil and Gas Bankruptcy Wave

Low commodity prices and ongoing capital constraints mean oil and gas operators must learn to self-fund their businesses, says leader of Alvarez & Marsal’s oil and gas restructuring practice.

December 3, 2020

Restructurings , Earnings , Exploration & Production , Drilling

Offshore Driller Noble Corp. to Emerge from Chapter 11 Bankruptcy

Noble Holding Corp. revealed on Nov. 23 that the United States Bankruptcy Court for the Southern District of Texas has issued an order approving the company’s Joint Plan of Reorganization.

November 24, 2020

Restructurings , Shale Plays , Gathering & Processing , Pipelines

Williams Restructures Midstream Contracts with Bankrupt Chesapeake

Pipeline operator Williams Companies Inc. said on Nov. 23 it will take ownership of some of Chesapeake Energy Corp’s assets in exchange for accepting lower gas gathering fees from the bankrupt shale producer.

November 23, 2020