Finance

Finance - Buy Backs

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Ascent Resources – Utica Reports Early Results Of Note Exchange Offer

Offer’s fulfillment is conditional on valid tenders and accession of all participating noteholders to ARU’s junior secured term credit agreement, and entry into a subscription agreement regarding the new notes.

Erin Pedigo
Mon, 02/08/2016 - 09:47
Free

Goodrich Petroleum Opens Note, Stock Exchange Offers

Georgeson Inc. is the information agent and American Stock Transfer & Trust Co. LLC is the exchange agent. The offers will expire on Feb. 24.  

Erin Pedigo
Wed, 01/27/2016 - 09:38
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Denbury Cancels Exchange Offers For Senior Notes

Eligible holders of outstanding 6.375% senior subordinated notes due 2021, 5.5 notes due 2022 and 4.625% notes due 2023 would have exchanged for new 7.5% notes due May 15, 2022.

Erin Pedigo
Thu, 01/21/2016 - 11:51
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Rice Energy Extends Note Exchange Offer

The offer will now expire on Jan. 27, and all other terms remain unchanged. The company said that on Jan. 20, about $399 million in unregistered notes had been tendered.

Erin Pedigo
Thu, 01/21/2016 - 10:34

Finance - Debt

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Devon Hires Jefferies As Banker In Sale Of Noncore Assets

"We are moving ahead with the divestiture program and have already received numerous indications of interest," Howard Thill, Devon's senior vice president for communications and investor relations told Reuters.

Erin Pedigo
Wed, 02/10/2016 - 10:43
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Warren Resources May File For Bankruptcy If Debt Talks Fail

The company has a 30-day grace period for negotiations with noteholders, since deferring interest payment on Feb. 1.

Emily Moser
Tue, 02/09/2016 - 07:45
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Vanguard Natural Resources Reports Results Of Note Exchange Offer

The exchange offer’s fulfillment is conditional on entry into a security agreement and intercreditor agreement under which the new notes will be secured by a second-priority lien. 

Erin Pedigo
Mon, 02/08/2016 - 15:50
Free

Ascent Resources – Utica Reports Early Results Of Note Exchange Offer

Offer’s fulfillment is conditional on valid tenders and accession of all participating noteholders to ARU’s junior secured term credit agreement, and entry into a subscription agreement regarding the new notes.

Erin Pedigo
Mon, 02/08/2016 - 09:47

Finance - Equity

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Fountain Quail Water Management Receives $40 Million In Equity

Produced and flowback water is treated and recycled with proprietary systems, which are designed to cut water-specific operating costs by eliminating wastewater transportation and disposal and freshwater sourcing and transportation.

Erin Pedigo
Wed, 02/10/2016 - 10:10
Free

Suncor Successfully Acquires 70% Stake In Canadian Oil Sands

Suncor has extended its offer to Feb. 22 so that Canadian Oil Sands shareholders who have not yet tendered their shares can do so. Further extensions beyond Feb. 22 are not anticipated, the release said

Emily Moser
Mon, 02/08/2016 - 07:30
Free

ION Geophysical Opens Reverse Stock Split

No fractional shares will be issued with the stock split. Computershare Investor Services is the transfer agent. The stock split became effective after Feb. 4’s market close.

Erin Pedigo
Fri, 02/05/2016 - 10:35
Free

NGP Backs Acquisition-Hungry Torrent Oil & Gas

Torrent is led by Hilcorp Energy Co. veterans Wachel and Henri deLaunay, as executive vice president. The two have a combined 30 years of experience in the acquisition and management of oil and gas fields, according to the release.

Erin Pedigo
Thu, 02/04/2016 - 17:55

Finance - Redemptions

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Tortoise Energy Infrastructure Will Redeem Series C Shares

The redemption represents a $50 million liquidation preference, and the redemption date is Jan. 8, 2016. The credit facilities funded the total price with Computershare, the paying agent and transfer agent, on Dec. 8. 

Erin Pedigo
Wed, 12/23/2015 - 11:35
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Federal Judge: CHK Noteholders Must Get $397.7 Million

A Manhattan federal judge ruled Chesapeake must pay bondholders an additional $379.7 million, after an appeals court ruled a series of senior notes was improperly redeemed at par, Bloomberg said.

Fri, 07/10/2015 - 16:01
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Encana Closes Bought Deal Offer

On April 6, the proceeds will redeem US$700 million in long-term debt that matures in 2017 and CA$750 million in long-term debt that matures in 2018. 

Mon, 03/16/2015 - 09:56
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Dominion Will Redeem 2009 Enhanced Junior Subordinated Notes

The redemption price will be 100% of the principal amount, plus accrued and unpaid interest to, but not including, the redemption date of $0.17 per $25.

Thu, 09/25/2014 - 09:33

Finance - Restructuring

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Hydrocarb Energy Retains Investment Bank As Refinancing Adviser

Kent P. Watts, chairman, added that Hydrocarb wants to enhance its current assets and leverage its P5 operator status in Texas.

Erin Pedigo
Wed, 01/20/2016 - 13:51
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Steel Pipe Maker Vallourec Considers Tougher Restructuring Plan

Vallourec, which gets two-thirds of sales' revenue from the oil and gas sector, has been trying to cut production capacity to cope with the downturn affecting its customers as energy prices fall.

Erin Pedigo
Fri, 01/15/2016 - 10:55
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RAAM Global Energy Retains Blackhill Partners As Restructuring Adviser

As the chief restructuring officer, Jim Latimer, managing director of Blackhill, will manage RAAM’s operations. Latimer said RAAM should emerge from bankruptcy with more capital available for drilling.

Erin Pedigo
Mon, 01/04/2016 - 15:32
Free

Involuntary Bankruptcies Are Viable Debt-collection Option

Since August, creditors have filed petitions for involuntary bankruptcy against three energy producers with nearly $2 billion in combined debt, Reuters said. The rare involuntary bankruptcy petitions target smaller companies.

Erin Pedigo
Wed, 12/23/2015 - 12:15