The Latest

Private Equity

Third Coast Midstream Unloads Portfolio of Southeast US Assets to Black Bear Transmission

The assets include six intrastate natural gas pipelines spanning approximately 1,400 miles in Alabama, Louisiana and Mississippi. The system has total capacity of more than 800 MMcf/d.

June 30, 2020

Public Capital

Shell to Write Down Up to $22 Billion After Coronavirus Hit

The Anglo-Dutch company has already been preparing a major overhaul after CEO Ben van Beurden laid out plans in April to reduce Shell's greenhouse gas emissions to net zero by 2050.

June 30, 2020

Restructurings

Bankrupt Chesapeake Asks to Cancel Pipeline Contracts, Sets Drilling Cuts

Chesapeake Energy separately said in a filing it plans to operate six to eight drilling rigs for the next two years, about half the 14 rigs active on average in the first quarter, as it battles a historic downturn in oil prices.

June 29, 2020

Restructurings

Permian Basin Operator Lilis Energy Succumbs to Bankruptcy

The restructuring is expected to reduce Lilis Energy debt obligations by more than $34.9 million, rightsizing its bank indebtedness for future operations focused in the Permian Basin.

June 29, 2020

Business

Oil Groups Boosted by Cuts to US Royalty Rates during Pandemic

The Trump administration has slashed amounts oil and gas companies must pay for access on government-owned land during the COVID-19 pandemic.

June 29, 2020

Public Capital

BP Sells Petchems Arm for $5 Billion

The company’s withdrawal from the sector reflects its shift to low-carbon energy.

June 29, 2020

Restructurings

Hunting Cuts 25% of Workforce To Counter Lower Oil Prices

Oilfield services group Hunting Plc has cut its workforce by a fourth as low oil prices and weak demand slammed most of its business units in the second quarter, the company said on June 29.

June 29, 2020

Private Equity

Camino Natural Resources Profile: Midcontinent Mover

Camino Natural Resources embraced scale, an out-of-favor shale play and a robust hedging strategy as a beacon through the darkness.

June 29, 2020

Restructurings

US Shale Pioneer Chesapeake Energy Files for Chapter 11 Bankruptcy

“We are fundamentally resetting Chesapeake’s capital structure and business to address our legacy financial weaknesses and capitalize on our substantial operational strengths,” CEO Doug Lawler said in a statement.

June 28, 2020

Restructurings

Sable Permian Resources Files for Bankruptcy

Sable Permian Resources was created last year when Aubrey McClendon's American Energy - Permian Basin LLC merged with its parent company in an attempt to avoid bankruptcy.

June 26, 2020