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

Analysts: Worst Of Energy Bankruptcies In Rearview Mirror

Oilfield services still face bankruptcy threat, but rest of industry relatively in the clear for this year.

August 16, 2016

Sabine Emerges From Bankruptcy As Private Company

In conjunction with its emergence from Chapter 11, Sabine closed on its new senior secured credit facility.

August 12, 2016

Loss Of Sandpiper Could Help Bring Bakken Into Balance

If Sandpiper Pipeline Project is snuffed, supply-and-demand balance in Bakken could arrive sooner, East Daley analysts say.

August 11, 2016

Oilfield Service Sector On Course To Hit $110 Billion Debt Wall

Analysts’ report describes massive amount of maturing, expiring debt facing oilfield services sector.

August 10, 2016

Halcón Files For Court Approval Of Prepackaged Restructuring Plan

Vendors, royalty owners and other parties will be paid in ordinary course.

July 28, 2016

New York Bankruptcy Judge Will Approve Sabine's Reorganization

The case has been unusually contentious, with Sabine and its lenders squaring off against the official committee of unsecured creditors, led by Aurelius Capital Management, Reuters reported.

July 27, 2016

Atlas Resource Partners Enters Restructuring Support Agreement

If the RSA is completed, Atlas Resource Partners’ debt will be reduced by about $900 million, and its interest expense will be reduced by $80 million, per year.

July 25, 2016

Lightstream Enters Restructuring Support Agreement

The proposed recapitalization is intended to be implemented through a corporate plan of arrangement under the Canada Business Corporations Act.

July 13, 2016