Bankruptcies

Dearth of Lower 48 Well Completions Sends Hi-Crush into Bankruptcy

Dearth of Lower 48 Well Completions Sends Hi-Crush into Bankruptcy

Houston-based Hi-Crush Inc., one of the leading Lower 48 northern white sand providers, is seeking voluntary bankruptcy protection under Chapter 11 to reduce its debt. The operator filed for protection on Sunday in U.S. Bankruptcy Court for the Southern District of Texas, noting it has a prearranged restructuring support agreement with creditors. The agreement, if…

July 14, 2020
North American E&Ps Facing Debt Challenges Again as Natural Gas, Oil Prices Languish

North American E&Ps Facing Debt Challenges Again as Natural Gas, Oil Prices Languish

Natural gas prices continue to languish and oil prices have failed to strengthen despite recent geopolitical events, indicating more North American energy operators may face restructuring or bankruptcy through the first half of 2020, according to Haynes and Boone LLP.

January 23, 2020
North American E&Ps Facing Debt Challenges Again as Natural Gas, Oil Prices Languish

North American E&Ps Facing Debt Challenges Again as Natural Gas, Oil Prices Languish

Natural gas prices continue to languish and oil prices have failed to strengthen despite recent geopolitical events, indicating more North American energy operators may face restructuring or bankruptcy through the first half of 2020, according to Haynes and Boone LLP.

January 23, 2020
Lower 48 E&P Bankruptcies Not ‘Epidemic,’ Says Rystad

Lower 48 E&P Bankruptcies Not ‘Epidemic,’ Says Rystad

Financial adversity has continued to dog Lower 48 operators this year, with more voluntary restructurings, but the bankruptcies aren’t a harbinger of doom, according to Rystad Energy research.

September 27, 2019

U.S. Energy Bankruptcies Down Sharply, but Low Commodity Prices Signal Caution

The wave of bankruptcies that swept across the U.S. oil and gas industry in 2015 and 2016 has ebbed, but the recent slump in commodity prices points to caution signs ahead, according to Haynes and Boone LLP.

January 15, 2019

U.S. E&P Default Rate Now Rivaling Telecom Bust, Moody’s Says

The oil and natural gas bust beginning in 2015 was worse than many thought, fueling a spike in the U.S. default rate that rivaled the telecom industry collapse in the early 2000s, both in recorded bankruptcies and low creditor recoveries, Moody’s Investor Service said.

September 14, 2016

U.S. Energy Sector Bankruptcies Highest Since Great Recession; Layoffs at 70,000, Says Dallas Fed

U.S. energy sector bankruptcies reached levels during the final three months of this year last seen in the Great Recession, as the financial toll from lower commodity prices squeezed oil and natural gas producers, according to the Federal Reserve Bank of Dallas (Fed).

December 28, 2015

S&P: Signs of Energy Merchant Company Bankruptcies ‘Getting Stronger’

All the signs in the energy merchant sector point to “falling business plans” for a couple of companies, “if not bankruptcy,” said Standard & Poor’s credit analyst Peter Rigby in a report on the future prospects for traders. “Few doubt that one or more energy merchant companies may soon file for bankruptcy. Signals are appearing and getting stronger.”

September 9, 2002

S&P: Signs of Energy Merchant Company Bankruptcies ‘Getting Stronger’

All the signs in the energy merchant sector point to “falling business plans” for a couple of companies, “if not bankruptcy,” said Standard & Poor’s credit analyst Peter Rigby in a report last week on the future prospects for traders. “Few doubt that one or more energy merchant companies may soon file for bankruptcy. Signals are appearing and getting stronger.”

September 4, 2002

Enron Affiliate Bankruptcies Continue; Dems to Return Contributions

Enron Corp. affiliates have continued to file for Chapter 11 bankruptcy protection in recent days, making the total 28 so far. On Monday, telecommunications products trader Enron Broadband Services LP filed for bankruptcy protection in U.S. Bankruptcy Court in Manhattan listing assets of $64.5 million and debt of $63.7 million, not including off-balance sheet and contingent obligations. Affiliate Enron Freight Markets Corp. filed last Friday, listing $6.3 million in assets and $4.7 million in debts.

December 28, 2001