Finance - Restructuring

EV Energy Partners Begins ‘New Chapter’ As Harvest Oil & Gas

EV Energy Partners, an MLP, filed for Chapter 11 in early April. Parent firm EnerVest and its EnerVest Operating unit did not file for bankruptcy.

June 11, 2018

Questerre Settles Lawsuit; Consolidates Quebec Position

Questerre Energy reported on June 4 that it has executed a letter of intent with a senior E&P company to settle outstanding litigation and acquire all their assets in the St. Lawrence Lowlands, Quebec.

June 4, 2018

Bankrupt Rex Energy To Sell Remaining Assets

Appalachia shale producer Rex Energy’s bankruptcy follows Chapter 11 filings this week by two other U.S.-focused E&Ps.

May 18, 2018

E&P Bankruptcies Could Be Slowing Down

Rebound in oil prices and restructurings of debt loads mean the trend toward more bankrupt producers is easing.

May 7, 2018

WhiteWater Midstream Adds Strategic Partners, Commitments To Delaware Basin Agua Blanca Pipeline

WhiteWater Midstream on May 2 announced the execution of multiple transportation and interconnect agreements for its Delaware Basin Agua Blanca pipeline, which is a joint venture between WhiteWater and WPX Energy (NYSE: WPX).

May 3, 2018

Seadrill's Bankruptcy Exit Plan Receives US Court Approval

Seadrill aims to expand relations with Schlumberger and other service firms following approval of its multibillion-dollar debt restructuring plan, CEO Anton Dibowitz told Reuters.

April 18, 2018

Breitburn Bankruptcy Exit Sign Energy Industry Is Rebounding

The turnaround of Breitburn, which encountered many hurdles during its two-year Chapter 11 bankruptcy, indicates ‘better times in the energy industry.’

April 16, 2018

Breitburn Exits Bankruptcy As New EIG-Backed Company

Breitburn said it successfully completed its Chapter 11 reorganization and emerged as Maverick Natural Resources, a newly-formed company owned and operated by EIG.

April 13, 2018

Cobalt’s US Gulf Of Mexico Bankruptcy Auction Pulls In $578 Million

The largest winning bid was a $339 million joint offer by Statoil and Total for Cobalt’s 60% operated interest in the North Platte discovery.

April 11, 2018

Scrimmage Line: Comstock Sells Eagle Ford; Picks Up Cowboys Owner’s Cash

Dallas Cowboys owner Jerry Jones will invest $75 million in Comstock, but analysts throw down a penalty flag on Comstock’s Eagle Ford Shale divestiture and dilutive refinancing efforts.

April 3, 2018

EV Energy Partners Files For Chapter 11 Bankruptcy

EV Energy Partners had current liabilities of $654 million and total current assets of $61.4 million in 2017, according to its latest filing.

April 2, 2018

Fieldwood’s Gambit: Noble Deal To Accelerate Bankruptcy Turnaround

Noble agreed to sell its Gulf of Mexico assets to Fieldwood Energy the same day Fieldwood sought bankruptcy protection to reduce its debt by $1.6 billion.

March 21, 2018

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