Debt – Page 2 – Oil & Gas 360

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

New Tax Breaks Planned for Mexico’s Indebted Pemex

July 11, 2019

From Reuters The Mexican government will propose an additional tax reduction for heavily indebted state oil company Pemex [PEMEXF.UL] in the nation’s 2020 budget, President Andres Manuel Lopez Obrador said Thursday, the latest measure to strengthen the company. Lopez Obrador has pledged to revive Pemex, whose $106 billion debt is the largest for any oil company in the world. In

Shell Accelerates Share Buybacks as Profits Soar

November 1, 2018

From Reuters LONDON (Reuters) – Royal Dutch Shell’s profits soared to a four-year high in the third quarter, boosted by rising oil and gas prices as the company accelerated its giant $25 billion share buyback program. Although the $5.6 billion quarterly profit slightly missed forecasts for a fourth quarter, investors took heart from a nearly 60 percent rise in

Northern Oil and Gas Reduces $20 Million of Debt

June 12, 2018

From Business Wire Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it has entered into two independent, separately negotiated exchange agreements with institutional holders (the “Investors”) of its 8% senior unsecured notes due 2020 (the “Notes”). Together the agreements represent a debt reduction of $20,950,000 par value of Notes. In the first exchange for the Notes, for

E&P Bankruptcy Filings Down 67% in 2017: Haynes and Boone

April 11, 2018

Debt involved in oil and gas company bankruptcies since 2015 totals $90 billion International corporate law firm Haynes and Boone has tracked 144 North American oil and gas producers that have filed for bankruptcy since the beginning of 2015. These bankruptcies, including Chapter 7, Chapter 11, Chapter 15 and Canadian cases, involve approximately $90.2 billion in cumulative secured and unsecured

What’s Worth More to the State of Texas—Land or Oil?

SM Energy Divestment of $792 Million Non-Core Assets Will Drive 30% Debt Reduction

April 4, 2018

Out of the Williston Midland- and Eagle Ford-focused SM Energy Company (ticker: SM) sold its remaining assets in the Williston Basin and third-party operated assets in Upton County, Texas. The combined sale generated $292.3 million, but the buyers have not been disclosed. President and CEO Jay Ottoson said, “We are committed to our strategy to focus on development of our

Baker Hughes Aims Cash at a $3 Billion Share Repurchase; Intends to Issue New Debt

November 6, 2017

Earlier today Baker Hughes GE (ticker: BHGE) announced that its board authorized Baker Hughes, LLC to repurchase up to $3 billion of its common units from BHGE and GE. According to the company’s press release, BHGE will use the proceeds from the sale of its BHGE LLC common units to repurchase its Class A shares. BHGE also announced its intention for

Oil & Gas 360 - Venezuela will stick to its plan of blending domestic and foreign crude to maintain and even increase oil production and exports in the face of sanctions prohibiting U.S. companies from buying the country’s oi

Venezuela Will Seek to Restructure Debt, Blaming Sanctions

November 3, 2017

From Bloomberg President Nicolas Maduro said Venezuela will seek to restructure its global debt after the state oil company makes one more payment, blaming U.S. sanctions for making it impossible to find new financing. The government will transfer funds for a $1.1 billion principal payment on Petroleos de Venezuela bonds that came due Thursday, Maduro said from Caracas. From there

EnerCom's price-to-cash-flow-per-share comparison with debt-to-market cap shows markets care less about debt below 150% of market cap

When Does the Balance Sheet Stop Being the Market’s First Concern?

October 19, 2017

Companies are beginning to put capital to work away from the drill bit, but should they be targeting debt? Several high-profile share repurchase programs have been announced recently as oil and gas companies look for ways to reinvest their free-cash flow. Anadarko Petroleum Corp. (ticker: APC) said in September that the company plans to repurchase $2.5 billion of its stock

Fed's Bullard Says Rate Cut May Be Needed ‘Soon’ - Oil & Gas 360

The Capital Markets are Open to Oil & Gas: PLS

February 13, 2017

PLS Capitalize™ Report: Oil & gas industry raised $186 Billion through U.S. public offerings in 2016; PLS predicts surge in M&A activity in 2017 Houston’s oil and gas research firm PLS Inc. provided the following statistical review of capital markets activity today, with the help of its capital markets tracking platform Capitalize™. Highlights of the PLS Capitalize™ report include: Aggregate

Whiting Reduces Debt via a Debt for Equity Transaction

June 23, 2016

Whiting Petroleum (ticker: WLL) has initiated an exchange offering for senior notes aimed at lowering debt and leverage through the mandatory conversion of senior notes to equity. The announcement on June 22, 2016, will encompass $377.0 million worth of nonconvertible notes and $697.9 million of convertible notes. The exchange will replace the old notes with new mandatory convertible senior notes

Genoil Completes a Non Brokered Private Placement

April 11, 2016

CALGARY, ALBERTA–(Marketwired – April 11, 2016) – Genoil Inc. (OTCBB:GNOLF) – The company closed its private placement on Friday December 11, 2015, raising gross proceeds of $322,730 totaling 6,454,600 shares at a price of $ 0.05 per unit. Each unit is comprised of one common share of the company and one transferable common share purchase warrant (a warrant). Each warrant will

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