Shale Producer Whiting Petroleum Emerges from Bankruptcy
Whiting Petroleum had become the first publicly traded shale producer to file for bankruptcy in April after the historic crash in crude prices in the previous month.
US Regulator Backs Energy Transfer in Chesapeake Pipeline Dispute
Chesapeake ignited a fight when it asked the U.S. Bankruptcy Court in Houston to approve breaking pipeline contracts, including with Energy Transfer and Crestwood Equity Partners.
Texas-based Pressure Pumper FTS International to File for Bankruptcy
Fort Worth, Texas-based pressure pumper FTS International plans to voluntarily file for bankruptcy in the coming weeks to implement a prepackaged Chapter 11 plan of reorganization it says will pave the way for future strategic growth.
E&P Bankruptcy Sales: Pros, Cons of Stalking-Horse Bidders
The opportunity to acquire oil and gas assets out of bankruptcy has grown in the current downturn, however, a panel of experts say buyers should be prepared to act early and quickly.
Analysts Forecast About 150 More E&P Bankruptcies by End-2022
Even at $40 WTI, about 150 more E&Ps in North America will need to seek Chapter 11 protection through 2022, according to Rystad Energy analysis.
Permian Basin Operator Lilis Energy to Pursue Bankruptcy Sale
Permian pure-play Lilis Energy is pursuing a process to sell substantially all of its assets through the Chapter 11 process, which may be pursuant to section 363 of the bankruptcy code or a Chapter 11 plan.
Abraxas Petroleum to Pursue Strategic Alternatives Following Refinancing Transactions
Abraxas Petroleum also entered into an agreement with its lender Angelo Gordon that included the appointment of the firm’s head of energy, Todd Dittmann, as a director of the San Antonio-based oil and gas company.
Oklahoma Shale Driller Chaparral Energy Files for Bankruptcy
Oklahoma shale driller Chaparral Energy Inc. filed for Chapter 11 bankruptcy protection on Aug. 16, the latest U.S. energy sector casualty in recent months.
Whiting Petroleum CEO Brad Holly to Resign Following Bankruptcy
Industry veteran and former SRC Energy CEO Lynn Peterson is expected to be appointed as Whiting Petroleum’s next CEO, effective as of the completion of the company’s restructuring.
Private Oil Producer Remora Petroleum Files for Chapter 11 Bankruptcy
Remora Petroleum, an Austin, Texas-based private E&P company focused on mature, long-lived producing properties, listed approximately $85 million in debt.