a

Forward to a Friend

Bankruptcy Watch: 4/7/16

Thank you for sharing Bankruptcy Watch: 4/7/16. Your email has been sent.

As we near the conclusion of the Spring re-determination, the process where banks calibrate their credit levels for producers, the squeeze of 10-30% reductions are being felt as a growing number of producers have delayed their 10k reporting due to pending credit agreement defaults which need to be resolved in order to continue as a going concern.  This week the following companies have announced, or indicated, they are pursuing some form of restructuring:

 

 

 

No Reported Restructuring's or Filings

 

 

 

Quicksilver Sale to Bluestone Update:  After seeking to reject the Crestwood gathering agreement in order to complete their $245MM asset sale, Bluestone and Crestwood announced that they have agreed to a 10 year fixed fee and percent of proceeds gathering agreement for their Barnett shale acreage.   The agreements call for all shut in wells to be returned to service by July 2016, and Bluestone will not reduce production through 2018.  

 

 

 

 

 

 

 

 

 

 

More Articles

Stay Informed!

Sign up for our newsletter to stay informed with what has happened this month.