Cotton Valley
Samson's CEO Plans To Resign, Company Lawyer Says
Joshua Sussberg said the continuing dive in commodity prices has unraveled the company's restructuring support agreement, which was struck just before it entered bankruptcy, Reuters reported.
Bankrupt E&P Accused Of ‘Ponzi-like’ Scheme Offers Louisiana Assets
The SEC says Luca International Group hit up investors for the E&P while hiding huge losses. Luca’s founder is accused in a federal suit of using investor funds on a $2.5 million house.
Memorial Resource Closes $284 Million Cotton Valley Deal
MRD has ongoing “grass roots” leasing efforts in Louisiana. Since January, the company has increased its acreage by 276% since its IPO in 2014.
Basic Energy Lowers Fracking Services Prices
The company's fluid services business has been the most resilient. This is due to its salt water disposal well network, especially in markets like the Permian Basin.
Cotton Valley Buoys Pressure Pumping Activity In Dry Gas Basins
The Cotton Valley is the only game in town as activity dwindles in the Barnett and Fayetteville. Survey respondents pointed towards idled equipment and crews as the cause of the slowdown.
Enhanced Completions Rule Dry Gas Basin Horizontal Wells
The activity increase in the Cotton Valley play, where higher bottomhole pressures are encouraging use of crosslink gels, has offset declines in the Barnett and Fayetteville shales.
Memorial Resource Plucks More Cotton Valley Acreage In Louisiana
The company will acquire 45,121 net Cotton Valley acres, pushing its total holdings past 190,000 net acres. The company plans to fund the deal through an equity offering.
Memorial Resource Development Will Acquire Additional North Louisiana Acreage
Also, the company said that the borrowing base under its senior secured revolving credit facility was increased to $1billion from $725 million in a regular semiannual redetermination.
Samson Resources' Lenders Target Restructuring For $4.15 Billion Debt
Samson Resources Corp.’s lenders target restructuring deal for $4.15 billion debt. A $110 million interest payment on bonds is due Aug. 15, people with knowledge of private matter told Bloomberg.
Japan’s Itochu Loses Money On Samson Investment Co. Buyout
Tokyo-based trader Itochu Corp. lost 38 billion yen (US$317 million) on low energy prices from its 25% stake in KKR’s 2011 buyout of Tulsa, Okla.-based Samson Investment Co., Bloomberg said.