Joseph
Markman
Hart Energy
Houston-based Diamond Offshore Drilling Files for Bankruptcy
Diamond Offshore Drilling recently skipped making an interest payment and retained advisers to help it evaluate various alternatives “with respect to its capital structure,” according to an SEC filing on April 16.
Bankruptcy Looms over US Energy Industry
Shale producers came into the current oil crisis with already high debt levels, namely from big investments to increase production across the U.S. in a bet on higher prices.
Yuma Energy Files for Bankruptcy with Plans to Liquidate
The final straw for the company came during the first quarter when the oil market collapse left Yuma Energy unable to cover its operating costs with cash flow from its operations, Interim CEO Anthony Schnur says.
How Will the Shale Litigation Boom Affect Your Operations?
The sudden price collapse, global recession and enduring pandemic set this downcycle apart from previous troubles, but the steps leading to bankruptcy filings remain the same. Oil and gas litigators explain how they are guiding their clients.
US Bankruptcy Court Approves $220 Million Sale of Alta Mesa Resources
Bayou City Energy and Mach Resources set closing for April 9, a move that an attorney for Alta Mesa creditors slammed as "gamesmanship" for reducing the deal's value by more than $5 million.
Oil and Gas Execs Keep Calm, Call Their Lawyers
The industry’s ‘we’ve got this’ mentality shifts to survival mode as it tackles an enormous body of uncertainty-infused challenges, including prices, demand, storage, upended deals and layoffs.
Oilfield Service Companies Cut Jobs, Brace for Bankruptcies
Eight oilfield service providers, with a total of $10.9 billion in debt, have filed for bankruptcy this year, including three since prices fell to $20 a barrel in early March.
Shale Producer Whiting Petroleum Files for Chapter 11 Bankruptcy
Whiting Petroleum had explored a wide variety of alternatives to address its balance sheet and looming note maturities in a “highly capital-constrained market environment,” CEO Bradley J. Holly says.
Bank Cut to Oil Loans Could Push Producers Beyond the Brink
Some U.S. oil and gas companies, including Lilis Energy and Ultra Petroleum, have already breached covenants or admitted they cannot repay their loans.
Boutique Adviser PJ Solomon Expands into Energy Restructuring
PJ Solomon has hired Tero Jänne to expand its restructuring capabilities into the energy sector at a time of significant dislocation in the oil and gas industry.