Reuters Oilfield services provider Basic Energy Services will cut about 500 jobs in Texas, according to a filing with the state’s workforce commission, as the company works through Chapter 11 restructuring that includes asset sales. The job cuts are focused throughout Texas, with 135 positions eliminated in Howard county in west Texas and 120 in Tarrant County, where its headquarters
Reuters Chesapeake Energy Corp CHK.O said on Wednesday no members of its board of directors were interviewing to take over from former chief executive Doug Lawler, who resigned last month after leading the company through its Chapter 11 bankruptcy. Interim-CEO Mike Wichterich said the search for a replacement would take a few months, adding that Lawler had not left because of
Reuters HOUSTON- Texas’s largest and oldest electric power cooperative on Monday filed for bankruptcy protection in federal court in Houston, citing a disputed $1.8 billion bill from the state’s grid operator. Brazos Electric Power Cooperative Inc, which supplies electricity to more than 660,000 consumers across the state, is one of dozens of providers facing enormous charges stemming from a severe
Oil and Gas 360 OKLAHOMA CITY, Feb. 9, 2021 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ: CHK) announced today that it has successfully concluded its restructuring process and emerged from Chapter 11, satisfying all conditions precedent under its Plan of Reorganization (the “Plan”). Highlights of the reorganized Chesapeake include: Anticipated cumulative free cash flow of more than $2 billion over the
Reuters U.S. shale oil and gas producer Chesapeake Energy Corp plans to cut 15% of its workforce, an email sent to employees revealed, as it closes on new financing that will allow it to emerge from bankruptcy court protection next week. Once the second-largest U.S. natural gas producer, Chesapeake was felled by a long slide in gas prices. The company
Reuters HOUSTON – Chesapeake Energy Corp’s value has soared since its June bankruptcy filing, the U.S. judge overseeing the natural gas producer’s trial indicated, and is worth $5.13 billion, far above the shale gas pioneer’s estimate. Creditors have offered sharply different estimates of the firm’s enterprise value during its trial in U.S. bankruptcy court in Houston. Judge David Jones’s figure
UTEX Industries Emerges from Chapter 11 with $700 Million Less Debt, Additional Financing…
360 Feed Wire Denver, December 2 – FourPoint Energy, LLC (“FourPoint or the “Company”) announced today the Company and its Western Anadarko Basin Assets have been renamed Unbridled Resources, LLC (“Unbridled”) and merged with a subsidiary of Maverick Natural Resources (“Maverick”). Over the course of several months, FourPoint has been in negotiations with its key stakeholders to reduce its debt
Lonestar Resources US Inc. (the “Company” or “Lonestar”) to…
(TheNewswire) Calgary, Alberta – TheNewsw…
Negotiated resolution reaffirms the value of Williams’ midstream infrastructur…
Trading of New Common Stock to Commence on NYSE American under Ticker “FTSI…
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