Blaze has settled with its majority shareholder for and in consideration of its 76% stake in the company.

Additionally, the company appointed Scot Cohen to the position of executive chairman.

Calgary-based Veraz Petroleum Ltd. announces changes to Birch Lake financing and impact on previously announced arrangement.

Gibson Energy ULC has replaced and repriced its existing Term Loan B and expanded its revolving credit facility, all through an amendment of its existing credit agreement.

An aggregate of $172.8 million in principal amount, or 99.8%, of the Existing Notes were tendered in the exchange offer, which expired on March 9.

To assist in the review process, Cross Border has engaged KeyBanc Capital Markets as its financial advisor.

At year-end 2010, the board elected to make some radical changes and cost reductions under a major Restructuring Plan.

Virgin is currently a debtor in possession under a Chapter 11 proceeding.

The company has extended the deadline for submitting ballots to accept or reject the prepackaged plan of reorganization to 5:00 p.m. Eastern Time on April 18.

Epic Energy has also reached an agreement in principal with the debenture holders to provide the company with a debtor-in-possession financing during the reorganization.