Finance - Restructuring

Connacher Files For Creditor Protection In Canada

Connacher said some of its existing lenders will provide up to CA$20 million in interim financing, and obligations will continue being met as it goes through the CCAA process, Reuters reported.

May 16, 2016

Seventy Seven Energy Enters Updated Restructuring Support Agreement

The second support agreement supersedes the previously amended and restated agreement dated May 3.

May 13, 2016

Pacific Exploration Seeks Creditor Protection In Canada

Pacific Exploration also plans file for protection under Chapter 15 of U.S. Bankruptcy Code, which grants foreign companies protection from creditors looking to seize assets in the country, Reuters reported.

April 27, 2016

Blackhill Partners Completes RAAM Global Energy Restructuring

Blackhill guided a sale process and managed the transfer of RAAM's onshore and offshore assets to the senior secured lender. Jim Latimer was chief restructuring officer.

April 26, 2016

Lawrence Becomes Special Liaison To Stone Energy’s Independent Directors

The independent directors appointed

David T. Lawrence

to his role.

Andrews Kurth LLP was hired as special counsel to the independent directors.

April 20, 2016

Seventy Seven Energy Enters Restructuring Support Agreement

Baker Botts LLP is Seventy Seven’s legal counsel and Lazard Freres & Co. LLC is its financial adviser. Alvarez & Marsal is Seventy Seven’s restructuring adviser.

April 19, 2016

US Shale Asset Operator Linc Energy Enters Financial Administration

PPB Advisory said it is working with Linc's management to review operations and assets in Australia and the U.S., adding Linc will continue with business as usual during review, Reuters reported.

April 15, 2016

Sinopec Uses Government Firms In Restructuring Of E&P Unit

Both of Sinopec's new partners are investment platforms under State-owned Assets Supervision and Administration Commission of the State Council, Reuters said. Most of SIPC's assets are not under Sinopec Corp.

April 15, 2016

Saratoga Resources Files Motion To Sell Majority Of Assets

Copies of the 363 motion and the associated bid procedures are on file and available for review at the office of the Clerk of Court, United States Bankruptcy Court, Western District of Louisiana – Lafayette Division.

April 12, 2016

Swift Energy’s Reorganization Plan Approved By Bankruptcy Court

At the time the plan was filed, agreements had not been reached on the treatment of the $75 million debtor in possession (DIP) loan provided by certain unsecured noteholders and the treatment of the company’s reserve-based loan.

April 1, 2016

Analysis: Bankruptcies Have Little Effect On Oil Production

Post-bankruptcy production figures are hard to track, but restructuring specialists say many bankrupt drillers keep pumping oil. Creditors can then recover some of what they are owed, Reuters said.

April 1, 2016

Bakken-focused Black Ridge Oil & Gas Enters Restructuring

The transaction, scheduled to close in May, has an effective date of April 1 and is subject to approval from Cadence Bank NA and completed Securities and Exchange Commission filings.

March 31, 2016