Restructurings
Restructurings , Acquisitions & Divestitures , Trends
Oil and Gas Investor A&D Trends: Pardon the Dust
At the crack of a bankruptcy judge’s gavel, stalking-horse bidders slowly lurch out of the starting gate, lower their long necks and graze among the oil and gas bankruptcies. The slowly revealed results are fascinating.
Restructurings
Report: Bankruptcies in Oil Sector Surge during Third Quarter
In third-quarter 2020, 17 oil producers sought bankruptcy protection, fueling a 21% jump in such filings in the first nine months of 2020 from a year earlier, according to a Haynes and Boone report.
Restructurings , Exploration & Production , Legislation
Oil Bankruptcies Could Shift Clean-up Bill to US Taxpayers
U.S. taxpayers could be left footing a bill of tens or even hundreds of billions of dollars to clean up oil and gas wells, a new report says.
Restructurings , Shale Plays
Eagle Ford Shale Producer Lonestar Resources Files for Chapter 11 Bankruptcy
Lonestar Resources' assets and liabilities were in the range of $500 million to $1 billion, according to a court filing in the U.S. Bankruptcy Court for the Southern District of Texas.
Restructurings , Public Capital , Exploration & Production , Shale Plays
Shale Producer Oasis Petroleum Files for Bankruptcy
"Due to historically low global energy demand and commodity prices, we determined it is best for Oasis Petroleum to take decisive action to strengthen our liquidity," CEO Thomas Nus says.
Restructurings , Public Capital , Shale Plays , Technology , Acquisitions & Divestitures
Calfrac Rejects Wilks Brothers’ $20 Million Takeover Offer
Instead, Canada's Calfrac Well Services on Sept. 24 said it was sweetening its recapitalization plan to reduce debt.
Restructurings , Trends
Opinion: Rising Bankruptcy Toll Shows US Oil Patch Is Not ‘OK Now’
Business failures pile up despite Donald Trump trumpeting the oil and gas sector’s recovery.
Restructurings , Public Capital , Exploration & Production , Enhanced Oil Recovery , Storage
Denbury Resumes Trading on NYSE after Emerging from Bankruptcy
Denbury will now focus on leveraging its expertise and strategic assets into an emerging carbon capture, use and storage business following completion of its financial restructuring, CEO Chris Kendall says.
Restructurings , Exploration & Production , Shale Plays
Ultra Petroleum Emerges from Bankruptcy as Privately Held UP Energy
After struggling with nearly $2 billion of debt left on its balance sheets despite a previous restructuring, Ultra Petroleum, one of the largest oil and gas drillers in Wyoming, voluntarily filed for Chapter 11 bankruptcy in May.
Restructurings , Unconventional , Shale Plays , Acquisitions & Divestitures
Permian Basin Operator Approach Resources Hitches Saddle to New Buyer
Bankrupt Permian operator Approach Resources appears to be headed toward a sale again—albeit for less than two-thirds of the original sales price.