Darren
Barbee
Oil and Gas Investor
Atlas Resource Partners Enters Restructuring Support Agreement
If the RSA is completed, Atlas Resource Partners’ debt will be reduced by about $900 million, and its interest expense will be reduced by $80 million, per year.
Lightstream Enters Restructuring Support Agreement
The proposed recapitalization is intended to be implemented through a corporate plan of arrangement under the Canada Business Corporations Act.
C&J Energy Services Headed To Bankruptcy To Erase $1.4 Billion Debt
The company will swap equity for debt forgiveness, and partners such as Nabors Industries will see a vastly reduced stake in the company.
Commentary: How To Keep A Bankruptcy From Becoming Worse
A tight pre-bankruptcy process is the key to ultimately having a successful reorganization.
Seventy Seven Energy Files Prepackaged Bankruptcy
"The successful completion of the solicitation process and today's filing represent the next step forward in our financial restructuring," CEO Jerry Winchester said, Reuters said.
Nigeria's Oando Signs US$475 Million Restructuring Loan
The financing led by Access Bank includes Diamond Bank, Ecobank, FCMB, Fidelity Bank, Stanbic IBTC Bank, UBA, Union Bank and Zenith Bank. The facility is a five-year term loan, Reuters reported.
Hercules Offshore Files Prepackaged Chapter 11 Bankruptcy
Akin Gump Strauss Hauer & Feld LLP is Hercules Offshore’s legal counsel; PJT Partners is its financial adviser; and FTI Consulting is its restructuring adviser.
Lessons Learned
Debt and restructuring experts at IPAA’s Managing Debt In Troubled Times conference discussed insights gained from past downturns and how to apply them to the present.
Exco Provides Updates Regarding Liquidity, Ongoing Restructuring Program
Under Phase 1 of the program, announced 13 months ago, Exco reduced net debt by 28%, to $1.1 billion as of March 2016. In September 2015, net debt was $1.5 billion.
Halcon Resources Will Restructure Through Chapter 11 Filing
The company's restructuring plan will also eliminate about $222 million of preferred equity, and reduce the company's annual interest payments by more than $200 million.