Darren
Barbee
Oil and Gas Investor
Chesapeake Energy Worth $5.13 Billion on Bankruptcy Exit, Judge Says
Chesapeake Energy's value has soared since its June bankruptcy filing, the U.S. judge overseeing the natural gas producer's trial indicated, and is worth $5.13 billion, far above the shale gas pioneer's estimate.
Default Warning as US Oil Industry’s Financial Woes Persist
Fitch says the U.S. oil and gas industry could account for one-third of junk bond defaults in 2021.
Texas Producer MD America Energy Promotes Mike Dye to CEO Following Bankruptcy
Mike Dye, who most recently served as CFO of the Fort Worth, Texas-based company, brings more than 20 years of oil and gas industry experience and 10 years of banking experience to the role.
Ameredev Closes Deal for Lilis Energy’s Permian Basin Assets
Oil and gas producer Lilis Energy to exit into the ether following the sale of its roughly 20,000-acre position in the Permian Basin through a court-supervised sales process.
Superior Energy Services to Swap $1.3 Billion Debt in Pre-Packaged Chapter 11
Houston-based Superior Energy Services reached an agreement with about 85% of its $1.3 billion senior unsecured notes for a reorganization plan that it said would eliminate all its funded debt and related interest costs.
Key to Surviving Oil and Gas Bankruptcy Wave
Low commodity prices and ongoing capital constraints mean oil and gas operators must learn to self-fund their businesses, says leader of Alvarez & Marsal’s oil and gas restructuring practice.
Offshore Driller Noble Corp. to Emerge from Chapter 11 Bankruptcy
Noble Holding Corp. revealed on Nov. 23 that the United States Bankruptcy Court for the Southern District of Texas has issued an order approving the company’s Joint Plan of Reorganization.
Williams Restructures Midstream Contracts with Bankrupt Chesapeake
Pipeline operator Williams Companies Inc. said on Nov. 23 it will take ownership of some of Chesapeake Energy Corp’s assets in exchange for accepting lower gas gathering fees from the bankrupt shale producer.
Seadrill Sees Depressed Drilling Rig Demand until Late 2021
Offshore oil drilling contractor Seadrill expects the market for its rigs to remain depressed until late 2021, the Oslo-listed firm said on Nov. 20 as it continued talks with creditors over a debt restructuring.
Natural Gas Producer Gulfport Energy Files for Bankruptcy
Natural gas explorer and producer Gulfport Energy Corp filed for Chapter 11 bankruptcy on Nov. 13, becoming the latest company in the U.S. energy sector to succumb to weak crude prices as the COVID-19 pandemic crimps fuel demand.