Finance - Restructuring

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

Breitburn Energy Bankruptcy Plan Denied In Blow To Elliott, WL Ross

The parties must now renegotiate a deal that would transfer Breitburn's Permian reserves to investors including Elliott and WL Ross through their participation in a $775 million rights offering.

March 9, 2018

US Vessel Operator Harvey Gulf International Marine Seeks Bankruptcy

Louisiana-based Harvey Gulf International Marine LLC, which has more than 50 vessels in its fleet and supplies offshore oil rigs among other services, filed for Chapter 11 bankruptcy in Houston.

March 9, 2018

Deepwater Vs. Onshore Depends On ‘Flavor Of The Month’

At the recent NAPE Global Business Conference, panelists from Hess and Akin Gump gave insight on what plays into developing resources in the Lower 48 or international deepwater.

February 15, 2018

Ascent Resources Marcellus Files For Chapter 11 Bankruptcy

Privately-held Ascent is one of several energy companies U.S. fracking pioneer Aubrey McClendon launched after leaving Chesapeake Energy in 2013.

February 8, 2018

Seadrill Postpones Court Hearing On Restructuring Plan

Drilling rig company Seadrill said in a court filing it postponed an initial hearing on its restructuring plan to Feb. 26, buying more time to consider alternative plans.

February 6, 2018