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

Restructurings , Drilling

Seadrill Sees Depressed Drilling Rig Demand until Late 2021

Offshore oil drilling contractor Seadrill expects the market for its rigs to remain depressed until late 2021, the Oslo-listed firm said on Nov. 20 as it continued talks with creditors over a debt restructuring.

November 20, 2020

Restructurings , Transactions , Midstream

Natural Gas Producer Gulfport Energy Files for Bankruptcy

Natural gas explorer and producer Gulfport Energy Corp filed for Chapter 11 bankruptcy on Nov. 13, becoming the latest company in the U.S. energy sector to succumb to weak crude prices as the COVID-19 pandemic crimps fuel demand.

November 16, 2020

Restructurings , Public Capital , Shale Plays , Acquisitions & Divestitures , Mergers

D-J Basin Producers Bonanza Creek, HighPoint to Merge in $376 Million Deal

The combination of Bonanza Creek Energy and HighPoint Resources is expected to create a leading unconventional oil producer in the Denver-Julesburg Basin with roughly 206,000 net acres in rural Weld County, Colo.

November 9, 2020

Restructurings , Technology

FTS International Reports Successful Confirmation of Plan of Reorganization

FTS International Inc. revealed that the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division has confirmed its prepackaged plan of reorganization, the company said on Nov. 5.

November 6, 2020

Restructurings , Pipelines

NGL Provides Update Relating to Grand Mesa Pipeline in D-J Basin

Company responds to customer’s rejection of TSAs in bankruptcy court.

November 3, 2020

Restructurings , People , Acquisitions & Divestitures

E&P Plus November 2020: On the Move

Check out the latest new hires, appointments and promotions as well as new company office and facility openings. 

November 2, 2020

Restructurings , Public Capital , Technology , Acquisitions & Divestitures

Calfrac Shareholders Approve Recapitalization Plan, Reject Wilks Brothers Bid

The debt-ridden oilfield services company, which rejected a hostile bid from Wilks Brothers last month, said most holders of its senior unsecured notes voted in favor of Calfrac's new plan.

October 19, 2020