Finance - Restructuring

Hercules Gets Creditor Majority To Support Bankruptcy Plan

The restructuring support agreement requires Houston-based Hercules to file for bankruptcy by July 8.

June 18, 2015

Cerberus Leads Lenders For Samson Resources Restructuring

Cerberus Capital Management LP leads lenders seeking control of KKR & Co.-owned Samson Resources Co. in a restructuring, Bloomberg was told by two people with knowledge of private matter.

June 10, 2015

Canadian Court Allows Connacher To Lower Interest Payments

Connacher doesn’t have to immediately pay US$128 million loan. Small oil sands developers including Connacher fight for survival with crude trading at just over half its value from June.

April 24, 2015

Meet The Companies That Have Dealt Themselves In On 2015 A&D

After Shell’s $70 billion deal, ExxonMobil and Chevron are in the hunt with several large U.S. E&Ps. But in the Permian Basin, the bid-ask spread remains too wide for deals.

April 13, 2015

Even More Global: Shell Megamerger Offers Big Premium For BG Group

Shell, already one of the world’s largest oil and gas companies, would strengthen its LNG portfolio and gain access to premier offshore Brazil deepwater oil in a mega-merger.

April 8, 2015

Connacher’s Out-Of-Court Restructuring Bid Denied

Connacher Oil & Gas Ltd.’s bid to restructure out of court in Canada was rejected after Credit Suisse sued in New York state court, citing Connacher’s loan default, Bloomberg said.

April 7, 2015

Matador And Endeavor Sell Bonds

Endeavor sold $300 million of eight-year senior unsecured debt to refinance its asset-based line of credit, according data compiled by Bloomberg. Energy companies are trying to shore up their finances.

April 7, 2015

Harvest Considers Restructuring After Venezuela Sale Fails

Houston-based Harvest has tried twice to sell its Venezuelan assets. The company holds a 20% stake in Petrodelta, a joint venture with state-owned Petroleos de Venezuela SA, Reuters said.

March 30, 2015

Quicksilver, Unable To Sell Assets, Files For Bankruptcy Protection

With acreage the Barnett Shale, Delaware Basin and Horn River Basin, the company wants to reorganize and is continuing to pay vendors, maintain payroll.

March 19, 2015

Quicksilver Resources Seeks Bankruptcy Protection

Operations in the U.S. and Canada will not be interrupted due to the filings, and motions were filed with the court to ensure their continuation.

March 17, 2015

Global Geophysical Services Emerges From Bankruptcy

About $32 million in second-lien financing was also part of the exit financing.

February 10, 2015

Endeavour Appoints Baggett As Chief Restructuring Officer

David C. Baggett is managing partner of Opportune LLP, which Endeavour is working with during a financial restructuring, the company said.

October 7, 2014