Finance - Debt
Resolute Energy is offering $125 million of its 2020 notes. The company said it plans to use the proceeds to finance its acquisition of Delaware Basin properties in Reeves County, Texas.
Memorial Production Partners LP said May 4 it successfully completed its financial restructuring, emerging from Chapter 11 as a new corporation named Amplify Energy Corp.
Tom Stabley, president and CEO, said the transaction supports Rex Energy's two-year development plan in the Appalachian Basin.
Lilis Energy plans to use the capital to build on the momentum of assembling a 10,000-net acre position in the core of the Delaware.
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?
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.
Deals in 2016 by Covey Park, the largest acreage holder in the Haynesville/Bossier shales, have fueled speculation that it might explore an IPO.
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.
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.
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.
Bonanza Creek Energy's reorganization plan has received court approval, paving the way for the Denver-based company to exit bankruptcy later this month.
Eagle Ford producer WildHorse Resource said April 5 that its borrowing base increased by $87.5 million, or about 24% compared to fall 2016.