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Debt

Oil, Natural Gas Industry Said ‘Exploiting’ Federal Relief through Historic Borrowing Spree

Oil, Natural Gas Industry Said ‘Exploiting’ Federal Relief through Historic Borrowing Spree

The oil and natural gas industry has embarked on a lavish borrowing spree this year, underpinned by a federal bailout of corporate debt markets in response to Covid-19, a new analysis has found. Oil and gas companies, already in dire financial straits before the pandemic, have issued $99.3 billion in debt in U.S. markets since…

October 2, 2020

Chesapeake Energy Reports Progress on Debt Reduction

Chesapeake Energy Corp. said Wednesday it is making progress on debt reduction measures nearly three months after warning that low commodity prices could push the company into bankruptcy.

January 29, 2020

Chesapeake Energy Reports Progress on Debt Reduction

Chesapeake Energy Corp. said Wednesday it is making progress on debt reduction measures nearly three months after warning that low commodity prices could push the company into bankruptcy.

January 29, 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

Oil Price Rebound Allowing Williston, DJ-Focused Whiting to Reduce Debt

Whiting Petroleum Corp. said it is taking advantage of resurgent oil prices to pay down its debt and is on-target with capital expenditures (capex) for the year, despite spending more than it planned on nonoperated expenses during the first quarter.

May 6, 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

Range Resources Exploring Various Asset Sales to Reduce Debt

Range Resources Corp. is taking a hard look at its portfolio as it pursues multiple asset sales to help delever its balance sheet, with properties being marketed in northeast Pennsylvania and the Midcontinent. Management also has not ruled out unloading some core inventory that isn’t in the development plans anytime soon.

April 26, 2018

Risks Seen For Coal Plant Refinancing in PJM Market Crowded With Gas-Fired Projects

Moody’s Investors Service warned in a report released on Monday that merchant coal-fired power generators operating in PJM Interconnection continue to face increased refinancing risks as wholesale electricity prices remain low and more natural gas-fired facilities come online.

April 25, 2017

Briefs — SM Energy

Denver-based SM Energy Co. has hired Petrie Partners to sell noncore assets in the Williston Basin’s Bakken Shale to focus additional capital on the Permian Basin and Eagle Ford Shale. According to the company, about 54,500 net acres are being marketed, consisting of the Raven/Bear Den acreage and leases outside the Divide County, ND, development.

October 5, 2016

Moody’s Downgrades Baker Hughes, Halliburton

One month after scuttling their planned merger, Baker Hughes Inc. and Halliburton Co. were dealt another setback on Friday after Moody’s Investors Service downgraded their credit ratings.

June 7, 2016
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