Finance - Restructuring

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

Seadrill Postpones Restructuring Plan Hearing Until Feb. 7

Seadrill’s main owner, Norwegian-born billionaire John Fredriksen, backed by Centerbridge Partners, and a group of unsecured bondholders have submitted alternative restructuring plans, and started talks earlier in January.

January 25, 2018

US Watchdog Says Court Should Demand More Info On Seadrill Restructuring

A U.S. court should dismiss the information provided by drilling rig firm Seadrill Ltd. (NYSE: SDRL) about its restructuring plan as inadequate, a U.S. government bankruptcy watchdog said in a filing on Jan. 3.

January 5, 2018

New Life For LINN

Linn Energy Inc. has been an exception in transitioning from MLP to organic growth enterprise.

January 2, 2018