Finance - Debt

For US E&Ps, Is Recovery A Slow And Steady Circle?

Some E&Ps are ramping up production, spending more, ignoring balance sheet repair and continuing to get rock bottom prices from oilfield service companies. Can the recovery handle it?

2017/04/24

Supreme Court Rejects Chesapeake's Bid In Bonds Dispute

The justices refused to hear Oklahoma City-based Chesapeake's appeal of a September 2016 ruling by the New York-based 2nd U.S. Circuit Court of Appeals in favor of bondholders.

2017/04/24

Covey Park Pays Down Debt As It Explores IPO

Deals in 2016 by Covey Park, the largest acreage holder in the Haynesville/Bossier shales, have fueled speculation that it might explore an IPO.

2017/04/24

Bill Barrett Offering $275 Million Of Notes In Private Placement

The net proceeds, together with available cash on hand, will fund the redemption of all outstanding 7.625% senior notes due 2019 and all outstanding 5% convertible senior notes due 2028.

2017/04/24

Swift Energy Increases Credit Facility Borrowing Base By $80 Million

J.P. Morgan led the facility and was joined by a syndicate of 11 banks, including six new lenders. As of March 31,about $172 million was drawn on the facility.

2017/04/21

Ultra Petroleum Exits Bankruptcy With $3 Billion New Financings

Ultra Petroleum said April 12 it successfully emerged from Chapter 11 bankruptcy following a $2.98 billion exit financing which paid the Houston-based company's creditors in full.

2017/04/12

Bonanza Creek's Reorganization Plan Receives Court Approval

Bonanza Creek Energy's reorganization plan has received court approval, paving the way for the Denver-based company to exit bankruptcy later this month.

2017/04/10

E&Ps, Lenders More Confident About Borrowing Bases, Survey Finds

Eagle Ford producer WildHorse Resource said April 5 that its borrowing base increased by $87.5 million, or about 24% compared to fall 2016.

2017/04/05

Cenovus Prices US$2.9 Billion Notes Offering

The acquisition includes ConocoPhillips' 50% interest in the FCCL Partnership, the companies' jointly owned oil sands venture operated by Cenovus, and most of ConocoPhillips' Deep Basin assets in Alberta and British Columbia.

2017/04/05

Ultra Petroleum Reports Notes Offering, Increased Loan

Ultra Petroleum also reported April 3 that the proposed senior secured first-lien RBL term loan was increased to $800 million from $600 million, and that the proposed borrowing base was increased to $1.2 billion from $1 billion.

2017/04/03

Ocean RIG Files For Bankruptcy Protection In US

Ocean Rig said March 28 it had entered into an agreement with creditors representing more than 72% of the company's debt for a financial restructuring. The company had $3.25 billion in debt as of Dec. 31.
 

2017/03/28

Chaparral Exits Bankruptcy With $100 Million In Liquidity

The  Oklahoma City-based company's emergence from bankruptcy 'marks a new and prosperous time in Chaparral's storied history,' said K. Earl Reynolds, Chaparral CEO.

2017/03/22

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