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Bankruptcy Watch: 3/4/16

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The market is still assuming E&P restructuring's are waiting to be filed in order address the maturing obligations and bank covenants.  To date, the filings have been few, but that may pick up after Spring Re-Determination, which may be much more aggressive than the previous Fall process.  This week we have the following filings


Green Hunter Resources:  Ticker GRH a diversified water resource, waste management, environmental services, and hydrocarbon marketing company specializing in the unconventional oil and natural gas shale resource plays within the Appalachian Basin.  The company expects to liquidate all assets

No Midstream Agreements


W&T Offshore: Ticker WTI  W&T is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico.  We have grown through acquisitions, exploration and development and currently hold working interests in approximately 54 offshore fields in federal and state waters (50 producing and four fields capable of producing). Company drew done their remaining credit line and retained Kirkland & Ellis, suggesting a forthcoming restructuring.

No Midstream Agreements


We continue to monitor the Sabine Oil case for Judge Chapman's decision regarding the requested termination of Sabine's Minimum Volume Commitment agreements, as disclosed below in their 10Q






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