Oil and gas

Maxus Energy Corp. Filed For Chapter 11

06/20/16

Yet another company in the energy sector has filed for bankruptcy protection.  On June 17, 2016, Maxus Energy Corporation, and its affiliates (“Debtors”) filed for chapter 11 protection in the United States Bankruptcy Court for the District of Delaware.

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The Energy Companies for Which Oil Rebound Came Too Late

05/16/16

SandRidge Energy filed for bankruptcy protection on Monday, joining a growing list of companies that weren’t able to hang on long enough to enjoy the rebound in oil.

Crude oil prices have climbed 76% since dropping to a 13-year low in mid-February. But that’s come too late for a number of oil-and-gas companies that have recently turned to the bankruptcy courts to restructure their debts.

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Venoco Restructuring Highlights Unusual Oil Well

05/16/16

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As oil and gas explorer Venoco seeks to move forward with its debt restructuring, it must confront the fate of an unusual oil well: one on the grounds of Beverly Hills High School.

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Commentary: There Are No Unencumbered Assets in Texas

04/19/16

Six years ago, in an otherwise unremarkable opinion, a court in Texas undermined one of the fundamental concepts embedded in the statute of frauds and deprived unsecured creditors of millions of dollars in value that would otherwise have been available to them. Nobody noticed—until now.

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Next Week in Bankruptcy

03/04/16

A Manhattan bankruptcy judge on Tuesday is expected to announce her decision on whether to free Sabine Oil & Gas Corp. from pipeline agreements it negotiated before the oil glut.

The agreements require Sabine to deliver minimum amounts of oil and natural gas to two pipeline operators for transport. If it doesn’t hit the benchmark, the pipeline companies collect a deficiency payment.

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New Gulf Resources Files for Bankruptcy Protection

12/18/15

Tulsa, Okla., energy company New Gulf Resources LLC filed for chapter 11 protection Thursday, the latest in a slew of energy companies to enter bankruptcy. Read the Daily Bankruptcy Review article here.

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