Restructurings
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.