Finance - Restructuring

Restructuring Practices' Staffs Have Grown Amid Oil Downturn

The 17-month downturn in oil prices is generating much work for bankers and attorneys, Reuters said. Many law firms and banks began reshuffling staff this summer.

December 14, 2015

Report: CGG Will Decide Whether To Begin Restructuring Procedure

CGG’s options are to increase capital or attract new investors to finance a planned reorganization, sources told Reuters, adding that a formal announcement is expected next week.

December 3, 2015

Reduced Incentive Restructuring Plan Approved For Sabine

The revisions, which received last-minute backing from second-lien lenders, include lowering the threshold payout for some executives and moving up the date for a bankruptcy confirmation hearing, Reuters said.

December 1, 2015

Millstein Partners With TPH For Energy Restructuring Consulting

TPH has formed similar consulting alliances with other restructuring advisers, one of the people said Nov. 25.

November 30, 2015

Black Elk Hires Blackhill Partners As Restructuring Adviser

"Blackhill Partners' long history of serving energy companies in difficult situations allows us to provide the leadership required in this highly complex bankruptcy," said managing director Jeff Jones.

November 11, 2015

Noble Energy Cuts Marcellus, Eagle Ford, Permian Workforce

While the company has about $5 billion in liquidity, Noble wants to be cash flow neutral in 2016 and continue to ramp up in its new Texas shale acquisitions.

November 11, 2015

Reeling Samson Resources, Once Worth $7 Billion, Files For Bankruptcy

Samson has arranged a deal with some of its lenders to eliminate debt and provide new equity investment, though owner KKR will lose its stake in the company.

September 18, 2015

Samson Resources Corp. Finalizes Restructuring Plan

Samson engaged Blackstone Advisory Partners as its investment banker and Alvarez & Marsal North America as its restructuring adviser. Samson’s restructuring counsel is Kirkland & Ellis, Reuters said.

August 17, 2015

TAM International Splits Regional Businesses Through Restructuring

Steven Scott has worked at TAM for 28 years and now heads the Eastern Hemisphere Operations Group.

Ray Frisby is now vice president of Western Hemisphere Operations.

August 13, 2015

ERG Companies Cancel 363 Sale Process

The companies’ assets have over time included areas on the U.S. Gulf Coast and in California, the Illinois Basin, Texas and Louisiana, according to ERG Resources LLC’s website.

August 13, 2015

Samson Resources' Lenders Target Restructuring For $4.15 Billion Debt

Samson Resources Corp.’s lenders target restructuring deal for $4.15 billion debt. A $110 million interest payment on bonds is due Aug. 15, people with knowledge of private matter told Bloomberg.

July 21, 2015

Saratoga Files For Chapter 11 Bankruptcy Protection

Chairman and CEO Thomas F. Cooke said the company hopes the Chapter 11 filing will “avert adverse action by Harvest Operating” which holds a $3.7 million arbitration award against Saratoga.

June 19, 2015