Darren
Barbee
Oil and Gas Investor
E&P Bankruptcies on Simmer in First Quarter
In a sign of possible attrition, there were no billion-dollar bankruptcies filed in the first quarter by oil and gas producers in North America, which hasn’t happened since third-quarter 2018, according to Texas-based law firm Haynes and Boone.
Oil and Gas Investor Post Bankruptcy Strategies: The Great Wipeout
In 2020, companies entered bankruptcy after a sudden plunge in oil and gas prices and, unlike the downturn six years ago, many emerged with nearly pristine balance sheets. But for what end?
HighPoint Resources Receives Quick Approval for Prepackaged Bankruptcy Plan
The prepackaged plan includes approval of Denver-based HighPoint Resources’ pending $376 million merger with Bonanza Creek Energy Inc., which the companies had agreed to last November.
DJ Basin Operator HighPoint Resources Files for Chapter 11 Bankruptcy
HighPoint Resources Corp. has filed voluntary petitions under Chapter 11 of the Bankruptcy Code on March 14 in the United States Bankruptcy Court for the District of Delaware.
McDermott Completes Minority Investment in Lummus Technology
McDermott International Ltd. has invested in Lummus Technology Holdings I LLC, a holding company of Lummus Technology, on March 8.
Norway’s Seadrill Writes Down $2.9 Billion on Its Oil Rigs
Offshore drilling rig contractor Seadrill said on March 4 it had taken an additional $2.9 billion non-cash impairment on its assets due to a bleak outlook for the sector, which has reduced demand for its drilling rigs.
Grant Thornton Expands Oil and Gas Restructuring Services in Firm’s Houston Office
Based in Houston, Loretta Cross and John Baumgartner join Grant Thornton as managing directors who will be part of the firm’s strategy and transactions practice.
Chesapeake Energy Emerges from Bankruptcy Following ‘Business Reset’
Alongside its emergence from bankruptcy, Chesapeake Energy also unveiled a commitment to achieve net-zero greenhouse gas direct emissions by 2035 among other environmental targets.
Extraction Oil & Gas Emerges from Bankruptcy with Tom Tyree as CEO
Extraction Oil & Gas also instituted a new governance model that strives for “environmental leadership through low-impact operations, emission reductions and reporting,” says the company’s new chairman, Benjamin Dell.
NGL Energy Partners Provides Update on Extraction Bankruptcy
Extraction Oil & Gas is a customer of Grand Mesa Pipeline, a subsidiary of NGL Energy Partners that provides takeaway capacity for crude oil producers in the D-J Basin where Extraction’s operations are focused.