Restructurings

Restructurings , Public Capital , Shale Plays , Acquisitions & Divestitures

Permian Basin Operator Lilis Energy to Pursue Bankruptcy Sale

Permian pure-play Lilis Energy is pursuing a process to sell substantially all of its assets through the Chapter 11 process, which may be pursuant to section 363 of the bankruptcy code or a Chapter 11 plan.

August 19, 2020

Restructurings , Public Capital , Shale Plays , Acquisitions & Divestitures

Abraxas Petroleum to Pursue Strategic Alternatives Following Refinancing Transactions

Abraxas Petroleum also entered into an agreement with its lender Angelo Gordon that included the appointment of the firm’s head of energy, Todd Dittmann, as a director of the San Antonio-based oil and gas company.

August 17, 2020

Restructurings , Public Capital , Shale Plays

Oklahoma Shale Driller Chaparral Energy Files for Bankruptcy

Oklahoma shale driller Chaparral Energy Inc. filed for Chapter 11 bankruptcy protection on Aug. 16, the latest U.S. energy sector casualty in recent months.

August 17, 2020

Restructurings , Public Capital , People , Shale Plays

Whiting Petroleum CEO Brad Holly to Resign Following Bankruptcy

Industry veteran and former SRC Energy CEO Lynn Peterson is expected to be appointed as Whiting Petroleum’s next CEO, effective as of the completion of the company’s restructuring.

August 14, 2020

Restructurings , Exploration & Production

Private Oil Producer Remora Petroleum Files for Chapter 11 Bankruptcy

Remora Petroleum, an Austin, Texas-based private E&P company focused on mature, long-lived producing properties, listed approximately $85 million in debt.

August 13, 2020

Restructurings , Shale Plays

US Energy Bankruptcies Surge Continues on Credit, Oil-price Squeeze

Last month, oil and gas producers California Resources and Denbury Resources both filed for Chapter 11 bankruptcy. Together, those firms combined account for $7.7 billion in debt.

August 12, 2020

Restructurings

E&P Bankruptcies Bring Renewed Focus on Fresh-start Valuation

Now is the time for oil and gas companies emerging from Chapter 11 bankruptcy to adequately address their associated fresh-start reporting and valuation considerations.

August 11, 2020

Restructurings , Exploration & Production

Fieldwood Energy Files for Bankruptcy for Second Time in Two Years

The Chapter 11 bankruptcy also follows the departure of Fieldwood Energy’s founder, Matt McCarroll, in early July.

August 5, 2020

Restructurings , Exploration & Production , Gathering & Processing

E&P Bankruptcies Move in ‘Very Hairy’ Direction

Court rulings over disputes with midstream operators are no longer easy to predict.

August 1, 2020

Restructurings , Public Capital , Drilling

Offshore Driller Noble Corp. Files for Bankruptcy

Offshore oil and gas driller Noble Corp. Plc said on July 31 it has filed for chapter 11 bankruptcy protection to restructure debt, following a historic fall in energy prices.

July 31, 2020