Connacher Files For Creditor Protection In Canada
Connacher said some of its existing lenders will provide up to CA$20 million in interim financing, and obligations will continue being met as it goes through the CCAA process, Reuters reported.
Seventy Seven Energy Enters Updated Restructuring Support Agreement
The second support agreement supersedes the previously amended and restated agreement dated May 3.
Pacific Exploration Seeks Creditor Protection In Canada
Pacific Exploration also plans file for protection under Chapter 15 of U.S. Bankruptcy Code, which grants foreign companies protection from creditors looking to seize assets in the country, Reuters reported.
Blackhill Partners Completes RAAM Global Energy Restructuring
Blackhill guided a sale process and managed the transfer of RAAM's onshore and offshore assets to the senior secured lender. Jim Latimer was chief restructuring officer.
Lawrence Becomes Special Liaison To Stone Energy’s Independent Directors
The independent directors appointed David T. Lawrence to his role. Andrews Kurth LLP was hired as special counsel to the independent directors.
Seventy Seven Energy Enters Restructuring Support Agreement
Baker Botts LLP is Seventy Seven’s legal counsel and Lazard Freres & Co. LLC is its financial adviser. Alvarez & Marsal is Seventy Seven’s restructuring adviser.
US Shale Asset Operator Linc Energy Enters Financial Administration
PPB Advisory said it is working with Linc's management to review operations and assets in Australia and the U.S., adding Linc will continue with business as usual during review, Reuters reported.
Sinopec Uses Government Firms In Restructuring Of E&P Unit
Both of Sinopec's new partners are investment platforms under State-owned Assets Supervision and Administration Commission of the State Council, Reuters said. Most of SIPC's assets are not under Sinopec Corp.
Saratoga Resources Files Motion To Sell Majority Of Assets
Copies of the 363 motion and the associated bid procedures are on file and available for review at the office of the Clerk of Court, United States Bankruptcy Court, Western District of Louisiana – Lafayette Division.
Swift Energy’s Reorganization Plan Approved By Bankruptcy Court
At the time the plan was filed, agreements had not been reached on the treatment of the $75 million debtor in possession (DIP) loan provided by certain unsecured noteholders and the treatment of the company’s reserve-based loan.