US Shale Industry Braces for Wave of Bankruptcies
Seventeen oil and gas producers in the U.S. have filed for Chapter 11 so far this year but many more are close.
Capital Alternatives: Upstream Financing Reconsidered
Even to just survive, E&Ps increasingly must look beyond traditional sources of capital to fund their operations. Here are some other financial structures on the rise.
Blackstone Group’s Eagle Ford Shale Venture Files for Bankruptcy
The bankruptcy filing by Blackstone Group's Gavilan Resources comes amid an "increasingly unworkable relationship" with Sanchez Energy, its partner in the Eagle Ford Shale.
California Resources Reportedly Seeking Up to $600 Million Bankruptcy Loan
California's biggest oil producer has been seeking a bankruptcy loan of $500 million to $600 million, though the talks are still fluid and the amount could change, the report said.
Oklahoma Oil Producer Chaparral Energy Raises Going Concern Doubts
Reuters reported in March Oklahoma oil and gas producer Chaparral Energy was working with debt restructuring advisers as it looks to shore up its cash position.
Shale Pioneer Chesapeake Energy Considers Bankruptcy Filing
The announcement follows last month's statement by Chesapeake Energy that it was in talks to line up bankruptcy financing and was in talks for a loan to run its operations through the court proceedings.
E&P Capital Market Trends: Dwindling Debt Options
Debt markets are bifurcated, with questions arising over E&Ps’ ability to pay upcoming maturities.
‘Like Watching a Train Wreck’: The Coronavirus Effect on North Dakota Shale Oil Patch
“If this is an act of God, maybe I need to find another career because I guess God’s had enough of the oilfield,” said oilfield services worker Nils MacArthur.
What the Oil Price Plunge Means for Oilfield Services M&A
Offshore drillers and North American shale producers most challenged in terms of debt, says analyst.
Worley Cuts 3,000 Jobs Amid COVID-19, Oil Crisis
Energy services provider Worley has reduced its workforce by 3,000 people in response to the current economic circumstances, the company said in a press release on April 28.