Haynes And Boone

North American E&P Bankruptcies Slow in December, but Industry Looking to Better Days

North American E&P Bankruptcies Slow in December, but Industry Looking to Better Days

The number of North American oil and natural gas producers filing for bankruptcy protection continued to slow in December, but 2020 remains a standout in the six years that Haynes and Boone LLP has been tracking bankruptcy data. The law firm’s latest Oil Patch Bankruptcy Monitor showed that since the oil and gas industry began…

January 20, 2021
Producer Bankruptcies in North America Show Slowing Trend in November

Producer Bankruptcies in North America Show Slowing Trend in November

Bankruptcies filed by producers in the North American oil and gas space slowed to two in November, according to the latest monthly Oil Patch Bankruptcy Monitor report published by Haynes and Boone LLP. The trend shows a gradual reduction in bankruptcies this autumn compared to earlier in the year; there were three producer bankruptcies in…

December 23, 2020
North American E&P, OFS Bankruptcies Slow in October, but More Expected

North American E&P, OFS Bankruptcies Slow in October, but More Expected

Bankruptcies in the North American oil and gas industry slowed to a total of three in October, but more filings are likely before year’s end, according to the latest monthly Oil Patch Bankruptcy Monitor report published Tuesday by Haynes and Boone LLP. “While the pace of bankruptcy filings for producers has slowed from the wave…

November 17, 2020
U.S. E&P Borrowing Base Seen Shrinking Amid Commodity Price Uncertainty

U.S. E&P Borrowing Base Seen Shrinking Amid Commodity Price Uncertainty

Available reserve-based lending (RBL) capital for exploration and production (E&P) companies is likely to shrink by 10-20% in the fall redetermination season, according to the latest biannual survey conducted by Haynes and Boone LLP. The law firm conducts surveys ahead of the spring and fall redetermination seasons for RBL, a common type of financing for…

October 14, 2020
Even at Higher Oil Prices, More North American E&Ps Predicted to Seek Bankruptcy Protection

Even at Higher Oil Prices, More North American E&Ps Predicted to Seek Bankruptcy Protection

Nineteen North American exploration and production (E&P) operators have filed for bankruptcy protection since the start of the year, and it is “reasonable to expect” more companies will seek protection from creditors in the months to come, according to Haynes and Boone LLP.

June 3, 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

And the Survey Says: Producers Facing Rough Fall Redetermination Season

For the first time in three years, oil and natural gas producers are expected to see their borrowing bases decline as credit availability contracts on a worsening outlook for commodity prices, according to a survey of 221 industry respondents conducted last month by Haynes and Boone LLP.

October 7, 2019