Bankruptcy

The bottom line for San Francisco-based Pacific Gas and Electric Co. (PG&E) in 3Q2019 bled red, with $1.6 billion in losses, with up to $2.2 billion in one-time charges.

More than a year after it said prolific Appalachian natural gas supplies eroded profits from power sales and were partly to blame for its decision to file for Chapter 11 bankruptcy, a court has approved the FirstEnergy Solutions Corp. (FES) restructuring plan.

Pacific Gas & Electric Co. (PG&E) has lost the exclusive right to file its reorganization plan in court after a federal judge this week cleared the way for bondholders to file a competing version.

Permian Basin pure-play Halcon Resources Corp. has emerged from bankruptcy, eliminating more than $750 million of debt and over $40 million in annual interest expenses to give it a better financial foothold.

Lower 48 explorer EP Energy Corp. has joined a growing list of operators to voluntarily seek bankruptcy protection to better position for the long term.

California regulators on Thursday opened a formal proceeding to assess financial and other implications for combination utility operations in the reorganization plan by Pacific Gas and Electric Co. (PG&E).

Pacific Gas and Electric Co. (PG&E) announced last week that it had reached an $11 billion settlement on about 85% of claims tied to wildfires across Northern California in 2017 and 2018.

Houston-based independent Alta Mesa Resources Inc. and related companies, which are focused on Oklahoma’s myriad stacked formations, on Thursday filed for voluntary Chapter 11 bankruptcy protection.

San Francisco-based Pacific Gas and Electric Co. (PG&E) expects to emerge from voluntary bankruptcy protection by mid-2020, while it faces a bid by its headquarters city to buy the electric system assets.