Another day, another bankruptcy in the exploration and production (E&P) sector, more evidence of the financial pain inflicted by the oil and gas commodity price rout.
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Bankruptcy Toll Continues as Midstates, Ultra File For Chapter 11
Continuing low commodity prices and a combined $5.8 billion in debt have forced two independent exploration and production companies (E&P) with holdings in several shale plays, Midstates Petroleum Co. Inc. and Ultra Petroleum Corp., to voluntarily file separate motions for bankruptcy protection.
Bankruptcy Toll Continues as Midstates, Ultra File For Chapter 11
Continuing low commodity prices and a combined $5.8 billion in debt have forced two independent exploration and production companies (E&P) with holdings in several shale plays, Midstates Petroleum Co. Inc. and Ultra Petroleum Corp., to voluntarily file separate motions for bankruptcy protection.
Goodrich Files Chapter 11, While Linn Holds Off Creditors For Another Month
Houston-based Goodrich Petroleum Corp. on Friday joined the ranks of U.S. energy firms that are unable to keep up with debt payments, filing to voluntarily restructure under Chapter 11. Meanwhile, Linn Energy LLC made some of its required interest payments, but it faces a steep financial hurdle over the coming month.
Goodrich Files Chapter 11, While Linn Holds Off Creditors For Another Month
Houston-based Goodrich Petroleum Corp. on Friday joined the ranks of U.S. energy firms that are unable to keep up with debt payments, filing to voluntarily restructure under Chapter 11. Meanwhile, Linn Energy LLC made some of its required interest payments, but it faces a steep financial hurdle over the coming month.
Energy XXI Files Bankruptcy Restructuring Plan, Capping Months of Uncertainty
Energy XXI Ltd., close to $3 billion in debt, on Thursday filed a restructuring plan for voluntary bankruptcy protection, ending months of uncertainty about the Gulf of Mexico-focused operator.
Energy XXI Files Bankruptcy Restructuring Plan, Capping Months of Uncertainty
Energy XXI Ltd., close to $3 billion in debt, on Thursday filed a restructuring plan for voluntary bankruptcy protection, ending months of uncertainty about the Gulf of Mexico-focused operator.
Warren Resources Edges Closer to Bankruptcy As Debt Negotiations Drag On
Denver-based Warren Resources Inc. is fast approaching a deadline to restructure its debt obligations with lenders and investors outside of court before it’s forced to seek bankruptcy protection, the company warned again on Wednesday.
California Oil Producer Venoco Files For Chapter 11
Denver-based Venoco Inc. joined more than 40 energy firms Friday in filing for voluntary Chapter 11 bankruptcy protection since oil prices began tumbling in 2014.
Warren Resources Again Warns of Bankruptcy, As Finances Continue Deteriorating
Warren Resources Inc. has defaulted on a $7.5 million interest payment for its 9% senior unsecured notes that was due on Feb. 1, bringing it one step closer to bankruptcy proceedings.