Darren
Barbee
Oil and Gas Investor
Meet The Companies That Have Dealt Themselves In On 2015 A&D
After Shell’s $70 billion deal, ExxonMobil and Chevron are in the hunt with several large U.S. E&Ps. But in the Permian Basin, the bid-ask spread remains too wide for deals.
Even More Global: Shell Megamerger Offers Big Premium For BG Group
Shell, already one of the world’s largest oil and gas companies, would strengthen its LNG portfolio and gain access to premier offshore Brazil deepwater oil in a mega-merger.
Connacher’s Out-Of-Court Restructuring Bid Denied
Connacher Oil & Gas Ltd.’s bid to restructure out of court in Canada was rejected after Credit Suisse sued in New York state court, citing Connacher’s loan default, Bloomberg said.
Matador And Endeavor Sell Bonds
Endeavor sold $300 million of eight-year senior unsecured debt to refinance its asset-based line of credit, according data compiled by Bloomberg. Energy companies are trying to shore up their finances.
Harvest Considers Restructuring After Venezuela Sale Fails
Houston-based Harvest has tried twice to sell its Venezuelan assets. The company holds a 20% stake in Petrodelta, a joint venture with state-owned Petroleos de Venezuela SA, Reuters said.
Quicksilver, Unable To Sell Assets, Files For Bankruptcy Protection
With acreage the Barnett Shale, Delaware Basin and Horn River Basin, the company wants to reorganize and is continuing to pay vendors, maintain payroll.
Quicksilver Resources Seeks Bankruptcy Protection
Operations in the U.S. and Canada will not be interrupted due to the filings, and motions were filed with the court to ensure their continuation.
Global Geophysical Services Emerges From Bankruptcy
About $32 million in second-lien financing was also part of the exit financing.
Endeavour Appoints Baggett As Chief Restructuring Officer
David C. Baggett is managing partner of Opportune LLP, which Endeavour is working with during a financial restructuring, the company said.
Lucas Energy Restructures Loan
The restructuring will "bolster liquidity," said Anthony C. Schnur, CEO.