chapter 11

California Resources Corporation agrees on comprehensive balance sheet restructuring with key creditors

July 16, 2020

Oil and Gas 360 Transaction to be implemented in pre-arranged Chapter 11 case Finally resolves leveraged capital structure inherited from 2014 spin-off Pre-arranged restructuring will eliminate over $5 billion of debt and mezzanine equity interest and consolidate CRC’s ownership of the Elk Hills power plant and cryogenic gas plant upon court approval Liquidity will be bolstered by $1.1 billion debtor-in-possession

Shares in Chesapeake Energy set for delisting, as historic bankruptcy is finally official

June 29, 2020

Forbes The NYSE this morning suspended trading in shares of freshly bankrupt Chesapeake Energy and commenced delisting proceedings for the stock, which is frozen at $11.85. The company, in filings yesterday for its Chapter 11 restructuring, in U.S. Bankruptcy Court in Houston, made it clear what the outcome was going to be for holders of its common stock under its

Lilis Energy voluntarily files for Chapter 11 bankruptcy

June 29, 2020

Oil & Gas 360 FORT WORTH, Texas, June 29, 2020 (GLOBE NEWSWIRE) — Lilis Energy, Inc. (NYSE American: LLEX) (the “Company”), an exploration and production company operating in the Permian Basin of West Texas and Southeastern New Mexico, announced today that it has filed petitions under Chapter 11 of the United States Bankruptcy Code to initiate voluntary cases in the

Whiting Petroleum Corporation reaches agreement in principle with certain of its noteholders to pursue consensual financial restructuring

April 1, 2020

Whiting Petroleum Commences Chapter 11 Reorganizational Process to Right-Size Capital Structure DENVER–(BUSINESS WIRE)–Apr. 1, 2020– Whiting Petroleum Corporation (NYSE: WLL) and certain subsidiaries (collectively, “Whiting” or the “Company”) today announced that they had commenced voluntary Chapter 11 cases under the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). The Company has more than $585 million of

Weatherford emerges from bankruptcy with $10 billion of support

December 16, 2019

Houston Chronicle Switzerland and Houston-based oilfield service company Weatherford International has emerged from Chapter 11 bankruptcy with roughly $10 billion of financial support. In a Friday morning statement, Weatherford announced that the company emerged from Chapter 11 with $6.2 billion of outstanding funded debt, secured $2.6 billion in exit financing facilities, including a $450 million revolving credit facility, secured a

Halcón Resources Appoints New CFO as Restructuring Process Continues

August 15, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Halcón Resources selects Ragan T. Altizer as its new EVP, CFO, treasurer Halcón Resources Corporation (stock ticker: HKRS), currently undergoing Chapter 11 reorganization proceedings, has appointed Ragan T. Altizer as its new executive vice president, chief financial officer and treasurer, effective August 14. Altizer will replace Quentin Hicks, who resigned from

Lonestar Announces Results for Horned Frog Wells - Oil & Gas 360

Energy Bankruptcies Back on the Rise in 2019

August 15, 2019

From The Houston Chronicle After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019. The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and the aggregate debt from 2019 bankruptcy filings of almost $20 billion has already surpassed the roughly $17 billion from a

Vanguard Emerges from Chapter 11 as Grizzly Energy

July 17, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Vanguard Natural Resources completes financial restructuring, emerges as Grizzly Energy Vanguard Natural Resources, a Houston-based onshore energy company, has successfully completed its Chapter 11 financial restructuring process, emerging as a new limited liability company under the name Grizzly Energy. According to the Houston Chronicle, this is the second time in two

Weatherford Files for Bankruptcy Protection

July 1, 2019

From The Houston Chronicle Weatherford International filed for Chapter 11 bankruptcy protection Monday The oilfield services company Weatherford International filed for Chapter 11 bankruptcy protection Monday, after struggling to assimilate the companies it bought during a quest for growth, taking on too much debt and fighting to recover from falling oil prices in 2014 that hammered the energy industry. Weatherford,

California Resources Corporation agrees on comprehensive balance sheet restructuring with key creditors

Shares in Chesapeake Energy set for delisting, as historic bankruptcy is finally official

Lilis Energy voluntarily files for Chapter 11 bankruptcy

Whiting Petroleum Corporation reaches agreement in principle with certain of its noteholders to pursue consensual financial restructuring

Weatherford emerges from bankruptcy with $10 billion of support

Halcón Resources Appoints New CFO as Restructuring Process Continues

Energy Bankruptcies Back on the Rise in 2019

Vanguard Emerges from Chapter 11 as Grizzly Energy

Weatherford Files for Bankruptcy Protection

EXCO Resources Completes Financial Restructuring

Cambrian Coal Files for Voluntary Chapter 11

Legacy Reserves Inc. Files For Chapter 11

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