Restructuring

Houston-based Swift Energy Co., whose primary operations are in the Eagle Ford Shale and Louisiana, filed for voluntary bankruptcy protection in the waning hours of 2015, and has begun a restructuring process that includes turning over control of the company and selling assets.

More bankruptcies could be ahead for “challenged” offshore drillers following the restructuring plan filed by Hercules Offshore Inc. last week, Fitch Ratings analysts said.

Financially troubled Samson Resources Corp. has made a restructuring pact that will cut debt and bring at least $450 million of new capital into the company as it prepares for a Chapter 11 filing, the Tulsa-based producer said late Friday.

Interior Secretary Ken Salazar, who oversaw a moratorium on offshore drilling after the BP plc oil spill and the restructuring of the agency, will step down in March, the agency announced last week.

Interior Secretary Ken Salazar, who oversaw a moratorium on offshore drilling after the BP plc oil spill and the restructuring of the agency, will step down in March, the agency announced Wednesday.

ATP Oil & Gas Corp. on Friday said it has filed a voluntary Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the Southern District of Texas “to undertake a comprehensive financial restructuring.”

Marathon Oil Corp. CEO Clarence P. Cazalot Jr., who led the company’s restructuring last year to become a pure-play exploration and production (E&P) company last week said upstream production in 2011 rose 7% year/year on the “highest level of rig activity in many years.”

Marathon Oil Corp. CEO Clarence P. Cazalot Jr., who led the company’s restructuring last year to become a pure-play exploration and production (E&P) company on Wednesday said upstream production in 2011 rose 7% year/year on the “highest level of rig activity in many years.”

As promised, EQT Corp. is restructuring its midstream operations to bring in more money for upstream developments in the Marcellus Shale (see Shale Daily, Nov. 1).