Finance - Restructuring
When price relief doesn’t materialize and debt looms, oil and gas executives may have to address a weak balance sheet. Acknowledgement is step one.
U.S. oil service companies face hard decisions in the coming weeks on whether to continue working for Venezuela’s state-run oil company Petróleos de Venezuela SA.
Lower-for longer oil and gas prices present another set challenge for energy companies—commercial real estate decisions.
Of all the Petro States potentially sliding into the abyss, Venezuela looks like it’s holding the lead
Ultra Petroleum also reported April 3 that the proposed senior secured first-lien RBL term loan was increased to $800 million from $600 million, and that the proposed borrowing base was increased to $1.2 billion from $1 billion.
C&J said a new board of directors was appointed Jan. 6, consisting of Chairman Patrick Murray; Stuart Brightman; John Kennedy; Steven Mueller; Michael Roemer; and Michael Zawadzki; in addition to Don Gawick, C&J's president and CEO.
Saratoga is debt-free with unchanged outstanding shares, the company said.
Samson suspended drilling new wells before filing for bankruptcy, Reuters reported.
Oilfield services still face bankruptcy threat, but rest of industry relatively in the clear for this year.
In conjunction with its emergence from Chapter 11, Sabine closed on its new senior secured credit facility.
If Sandpiper Pipeline Project is snuffed, supply-and-demand balance in Bakken could arrive sooner, East Daley analysts say.