Restructurings

Restructurings , Public Capital , Exploration & Production , Shale Plays

Rosehill Resources Files for Chapter 11 Bankruptcy

Rosehill Resources Inc. and Rosehill Operating Co. LLC have commenced voluntary Chapter 11 cases on July 27.

July 27, 2020

Restructurings

Oil Analysts See More Challenges Ahead for Growing Bankruptcies

About $140 billion worth of debt is due to mature between 2020 and 2022 in the U.S. oil and gas market, analyst says.

July 22, 2020

Restructurings , Shale Plays , Well Stimulation

CARBO Ceramics Emerges from Bankruptcy under New Ownership, CEO

Wilks Brothers, CARBO Ceramics’ pre- and post-bankruptcy lender, agreed to take over the Houston-based frac sand supplier in exchange for its secured debt.

July 21, 2020

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

PATH FORWARD: Evercore’s James West on Chevron-Noble Energy Deal, Shale Outlook

“M&A has started to pick up. You saw a deal announced with Chevron buying Noble. We would expect to see more of those,” James West, senior managing director of Evercore ISI, says.

July 21, 2020

Restructurings , Shale Plays , Technology

BJ Services Files for Bankruptcy with Plans to Sell Assets

Fracking company BJ Services, which filed for Chapter 11 in the bankruptcy court in Southern District of Texas, listed assets and liabilities in the range of $500 million to $1 billion.

July 20, 2020

Restructurings , Private Equity , Shale Plays

Arclight’s Bruin E&P Partners Files for Chapter 11 Bankruptcy

Led by CEO Matt Steele, Bruin E&P Partners formed in 2015 with backing from Boston-based private equity firm ArcLight Capital Partners.

July 20, 2020

Restructurings , Technology , Mergers

Oil Services Firm Aker Solutions to Merge with Kvaerner, Names New CEO

Norwegian oil service providers Aker Solutions and Kvaerner will merge to strengthen their base in the global energy industry, including renewable energy, both companies said on July 17.

July 17, 2020

Restructurings , Public Capital

California Resources Enters Bankruptcy to ‘Finally’ Resolve Occidental-inherited Debt

California Resources said it entered a restructuring support agreement with “key creditors” that will eliminate over $5 billion of debt and mezzanine equity interest.

July 16, 2020

Restructurings , Shale Plays , Completions

Hi-Crush Becomes Latest Frac Sand Supplier to Enter Bankruptcy

Houston-based Hi-Crush entered into a restructuring support agreement with certain noteholders for a prearranged plan, which, if implemented, will result in the elimination of approximately $450 million of unsecured note debt.

July 13, 2020

Restructurings , Exploration & Production

Experts Offer Grim Outlook for Upstream Bankruptcies

Current market conditions are expected to drive a “significant increase in bankruptcies” for E&P companies during the second half of 2020, one expert says.

July 9, 2020