Finance - Debt

Bankrupt Breitburn Rebuffs Lime Rock Resources' $1.8 Billion Bid

Lime Rock’s $1.8 billion “stalking horse” offer tops a $1.6 billion enterprise valuation by Breitburn’s investment bank.

February 13, 2018

Kosmos Energy Refinances $1.3 Billion Term Loan

Oil and natural gas explorer Kosmos Energy Ltd. (NYSE: KOS) said on Feb. 6 it refinanced the loan facility tied to its energy reserves, raising the borrowing capacity to fund exploration.

February 6, 2018

Diamondback Energy Prices $300 Million Tack-On Debt Offering

Diamondback said it plans to use all of the net proceeds from the tack-on offering to repay a portion of the outstanding borrowings under its revolving credit facility, which totalled $235 million as of Sept. 30.

January 26, 2018

Extraction Oil & Gas Prices Upsized Debt Offering Of $750 Million

Extraction said proceeds will partially be used to fund a tender offer of its $550 million outstanding 2021 notes. Any remaining proceeds will go toward the D-J Basin-focused company's general corporate purposes.

January 19, 2018

Fewer E&P Bankruptcies Filed In 2017, But Insolvency Still Looms

In the past three years, the exit strategy of choice for bankrupt companies—trading equity for debt—may have led some E&Ps back to distress as they work to pay remaining debt and sacrifice capex.

January 9, 2018

Legacy Reserves Expands Second Lien Term Loan, Increases Senior Notes Ownership

Legacy Reserves LP (NASDAQ: LGCY) entered into additional transactions to reduce its total indebtedness and increase its financial flexibility, the company said on Jan. 5.

January 8, 2018

Outlook 2018: Trends & Challenges

Part II of our outlook for oil and gas in 2018 features five experts discussing industry trends and challenges for the year ahead.

January 3, 2018

Outlook 2018: Surprises & Strategies

Part I of our outlook for oil and gas in 2018 features five experts discussing industry surprises in 2017 and investing opportunities for the new year.

January 2, 2018

Whiting Completes $1 Billion Debt Offering, Launches Redemption

Whiting Petroleum Corp. (NYSE: WLL) said on Dec. 27 it completed its offering of $1 billion aggregate principal amount of 6.625% senior notes due 2026.

December 28, 2017

Covey Park Upsizes, Prices $175 Million Debt Offering

Covey Park Energy LLC and Covey Park Finance Corp. have priced a private offering of an additional $175 million in aggregate principal amount of their 7.50% senior notes due 2025 at 104.25% of principal amount plus accrued interest, the company said on Dec. 7.

December 8, 2017

Earthstone Energy Increases Borrowing Base To $185 Million

Earthstone Energy Inc. (NYSE: ESTE) has increased its borrowing base under its senior secured revolving credit facility from $150 million to $185 million in, the company said on Dec. 4.

December 5, 2017

Continental Proposes Debt Offering To Reduce $500 Million Term Loan

Continental Resources Inc. (NYSE: CLR) said on Dec. 4 it intends to offer a series of senior notes due 2028 in a private placement to eligible purchasers.

December 4, 2017