Bonds posted by oil and natural gas producers to help prevent orphaned wells on federal lands are too low, with most not high enough to cover the costs of reclamation, according to a report by the U.S. Government Accountability Office (GAO).
Bonds
Articles from Bonds
Chesapeake Owes Bondholders Under 2015 Ruling After Supreme Court Rejects Case
A 2015 court decision ordering Chesapeake Energy Corp. to pay more than $400 million in a bond dispute is officially in full effect after the U.S. Supreme Court declined to hear the company’s appeal this week.
Bank Responds as Chesapeake Petitions Supreme Court Over Bond Dispute
The Bank of New York Mellon Corp. is asking the U.S. Supreme Court to again reject Chesapeake Energy Corp.’s efforts to avoid paying investors more than $400 million in a four-year-old bond dispute.
Dynegy Sells Bonds, Executes Stock Offering for Long-Term Restructuring
Dynegy Inc. on Friday priced $1.45 billion of second priority senior secured notes as part of its credit refinancing plan, and has scheduled the offering to close August 11. The offering is part of the company’s refinancing overhaul that it announced in July, which would, among other things, begin to repay ChevronTexaco Corp. for a $1.5 billion loan it gave Dynegy to attempt its merger with Enron Corp. in November 2001.
Dynegy Sells Bonds, Executes Stock Offering for Long-Term Restructuring
Dynegy Inc. on Friday priced $1.45 billion of second priority senior secured notes as part of its credit refinancing plan, and has scheduled the offering to close August 11. The offering is part of the company’s refinancing overhaul that it announced in July, which would, among other things, begin to repay ChevronTexaco Corp. for a $1.5 billion loan it gave Dynegy to attempt its merger with Enron Corp. in November 2001.
Mirant’s Restructured Debt Plan Designed to Avoid Bankruptcy
Atlanta-based Mirant said late Monday it has offered to restructure some of its debt and bonds in a plan designed to pay off its creditors and avert a likely bankruptcy. The company also is asking its debt holders to vote in favor of a “fast track” pre-packaged plan of reorganization, in case an insufficient number of banks or bondholders agree with its out-of-court restructuring plan.
Mirant Offers Plan to Restructure Debt, Avert Bankruptcy
In a plan designed to pay off its creditors and avert a likely bankruptcy, Atlanta-based Mirant has offered to restructure some of its debt and bonds. Mirant also is asking its debt holders to vote in favor of a “fast track” pre-packaged plan of reorganization, in case an insufficient number of banks or bondholders agree with its out-of-court restructuring plan.
JP Morgan Predicts Dynegy to Prevail in Enron Lawsuit
Dynegy Inc.’s bonds were raised to “overweight” from “neutral” in a revised report by J.P. Morgan Chase & Co. on Monday. The revision followed the “company’s strong performance in the fourth quarter, its focus on debt reduction and our belief that Dynegy has a reasonable probability that it will prevail in the lawsuit with Enron over the aborted merger last year.”
Lawsuits, FERC Challenges Force Cal-PX into Chapter 11
Still holding on to the collateral of its 70-odd participants inthe form of letters of credit and bonds worth hundreds of millionsof dollars, California’s state-chartered nonprofit wholesale spotmarket for electricity, Cal-PX, chose a Chapter 11 bankruptcyfiling last week because of the preponderance of litigation andfederal regulatory actions pending, its CEO George Sladoje saidMonday.