Finance

Exclusives

Oil 'Backwardation' A Key Test For Sentiment

The Brent crude futures curve has begun to signal that traders believe a long-awaited rebalancing of the market is finally under way.

August 16, 2017

Atlas Energy Founder Opens Blank-Check Company’s IPO

Jonathan Z. Cohen, CEO of Osprey Energy Acquisition, is also part of activist investor Jana Partners’ efforts to halt EQT’s $8.2 billion purchase of Rice Energy.

July 27, 2017

Ahead Of Second-Quarter Calls, Analysts Lay Out Themes

With second-quarter earnings season for oil and gas companies looming, analysts weighed in on expected themes.

July 26, 2017

FAQ: What Happens To Intellectual Property Rights In Bankruptcy?

A Strasburger & Price partner discusses intellectual property rights issues involving oil and gas companies.

July 24, 2017

Finance - Buy Backs

Petrobras Launches Buyback For $2 Billion Of Debt

The bonds, which include notes maturing in Jan. 2019, March 2019, April 2019, Jan. 2020 and March 2020, have almost $10 billion outstanding worth of securities, Reuters reported.

January 9, 2017

Perpetual Energy Extends Maturity Date For Senior Note Exchange

Scotia Capital Inc. is the sole dealer manager and solicitation agent. Kingsdale Shareholder Services is the information agent and Computershare Investor Services Inc. is the depositary.

December 27, 2016

Devon Upsizes Maximum Tender Offers In Notes Buyback

The tenders will be funded through the net proceeds from previously completed asset sales and financing transactions, and will reduce outstanding debt.

August 18, 2016

EXCO Resources Opens Tender Offer For Notes Buyback

The consent solicitation will expire on August 9 and the tender offer will expire on Aug. 23.

July 28, 2016

Finance - Debt

Resolute Energy Launches Debt Offering To Fund Delaware Deal

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.

May 9, 2017

Memorial Production Partners Emerges From Bankruptcy With New Name

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.

May 5, 2017

Rex Energy Closes New $300 Million Term Loan Agreement

Tom Stabley, president and CEO, said the transaction supports Rex Energy's two-year development plan in the Appalachian Basin.

May 1, 2017

Lilis Energy Raises $140 Million For Permian A&D

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.

April 27, 2017

Finance - Equity

‘Black Swans’ In Energy

Joe Brusuelas, RSM, and Chris Ortega, TPG Capital, discuss the anomalies of a changing energy market.

August 18, 2017

WPX Energy Initiates Public Offering Of Senior Notes

WPX Energy (NYSE: WPX) said Aug. 8 that it has commenced an underwritten public offering of $150 million of its 5.25% senior notes due 2024. 

August 8, 2017

Post Oak Energy Capital Leads $100 Million Capital Commitment To Nadel and Gussman NV

Post Oak Energy Capital, through investment partnerships it manages, said Aug.8 that it led a $100 million equity commitment to Nadel and Gussman NV LLC (NGNV). Affiliates of NGNV and the management team will co-invest alongside Post Oak.

August 8, 2017

Murphy Oil Offers $550 Million Of Senior Notes Due 2025

Murphy Oil Corp. (NYSE: MUR) said on Aug. 3, subject to market conditions, it intends to offer $550 million of senior notes that will mature in 2025 pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC).

August 4, 2017

Finance - Redemptions

Holly Energy Partners Will Redeem Senior Notes Due 2020

Holly Energy Partners LP and  Holly Energy Finance Corp. will redeem all $300 million of their outstanding 6.50% senior notes due 2020, according to a Dec. 2 press release.

December 2, 2016

Paramount Resources Will Redeem Senior Unsecured Notes Due 2019

Paramount Resources Ltd. will redeem about $286.58 million of outstanding 7.625% senior unsecured notes due 2019 on Dec. 19 of this year, the company said Nov. 17.

November 18, 2016

Concho Completes Acquisition Of Midland Basin Core Acreage

Concho also said it recently completed its redemption of the $600 million of 7.0% senior notes due January 2021.

October 4, 2016

Halliburton Will Redeem $2.5 Billion In Senior Notes

The Bank of New York Mellon Trust Co. NA, the trustee, is notifying all current registered noteholders of the redemption.

May 9, 2016

Finance - Restructuring

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.

April 3, 2017

C&J Energy Services Completes Financial Restructuring

C&J said a new board of directors was appointed Jan. 6, consisting of Chairman Patrick Murray; Stuart Brightman; John Kennedy; Steven Mueller; Michael Roemer; and Michael Zawadzki; in addition to Don Gawick, C&J's president and CEO.

January 6, 2017

Saratoga Resources Emerges From Bankruptcy

Saratoga is debt-free with unchanged outstanding shares, the company said. 

November 3, 2016

Bankrupt Samson Resources, Creditors Reach Restructuring Deal

Samson suspended drilling new wells before filing for bankruptcy, Reuters reported.

August 29, 2016