Finance - Debt

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Outlook Is Gloomy For Companies’ Borrowing Thresholds

Average yield on U.S. junk-rated energy companies rose to more than 12% Aug. 24, Bank of America Merrill Lynch data said- the highest level since the financial crisis, Reuters said.

Erin Pedigo
Fri, 08/28/2015 - 11:43
Free

Halcón Opens Debt Exchange, Receives NYSE Listing Notice

Jefferies LLC and J.P. Morgan Securities LLC are placement agents for the debt exchanges. The price of Halcón’s common stock has fallen below New York Stock Exchange’s continued listing standard.  

Fri, 08/28/2015 - 11:24
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Bad Energy Sector Loans Proliferated In 3Q: Bank Of Montreal

Almost all of the weakness was from the U.S. market, where BMO, Canada's fourth-largest bank, has a significant presence. U.S. energy companies tend to have more debt, Reuters said.

Erin Pedigo
Tue, 08/25/2015 - 11:15
Free

Plains All American Offers Senior Notes

Citigroup Global Markets Inc., Mizuho Securities USA Inc., Mitsubishi UFJ Securities (USA) Inc. and UBS Securities LLC are joint book-running managers. Net proceeds will repay outstanding commercial paper program borrowings.

Tue, 08/18/2015 - 09:22
Non-free

Energy XXI Replaces Production, Reserves In Takeover Of Subsidiary

The company is targeting recompletions as a low-cost production method while cutting its capex in 2016 by more than 75%.

Darren Barbee
Fri, 08/14/2015 - 15:18
Free

Petrobras’ Finances Limit Ability To Operate Subsalt Polygon

Petrobras’ debt and weak finances limit its ability to finance 30% of all new subsalt projects and run them as operator, Reuters said. This lessens subsalt development chances, critics say.

Thu, 08/13/2015 - 15:29
Non-free

After WPX Closes Permian Deal, The Real A&D Work Will Begin

WPX Energy is nearing a close to its $2.8 billion Permian deal, with the company saying it intends to wrap up the deal before the end of August.

 

Mon, 08/10/2015 - 14:06
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SEC: Miller Energy Inflated $2.25 Million Acquisition To $480 Million

Miller Energy, already fending off bankruptcy concerns, said its COO has resigned in the wake of the SEC investigation and that it is trying right itself with divestments and a loan.

Fri, 08/07/2015 - 13:01
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RSP Permian Prices $200 Million Additional Notes

They are offered in addition to $500 million of identical notes sold in September 2014.  All will be a single class of debt securities. Offering will close on Aug. 10.

Thu, 08/06/2015 - 16:40
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Terra Energy Corp. Renews Credit Facility

Renewed facility contains a $22.5 million revolving loan, about $5 million in letters of credit and a $700,000 remaining development line. It was renewed after annual review by chartered lender.

Wed, 08/05/2015 - 14:06
Free

Brent Crude At $50 Signals Long, Deep Price Crisis

Brent below $50 a barrel means new projects and existing operations require more cuts. Companies trying to shed oil fields could be forced to sell quickly for less, Reuters said.

Wed, 08/05/2015 - 09:17
Non-free

Financing Alternatives

Several working interest and royalty structures could meet the industry’s capital needs in challenging times.

Tue, 08/04/2015 - 15:47

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