Bankruptcy / Restructure Update | Financial Trouble | Capital Markets
Denbury Resources Files Chapter 11 Bankruptcy
Denbury Resources has entered into a Restructuring Support Agreement with funded debtholders holding 100% of revolving credit facility loans, approximately 67.2% of second lien notes and approximately 70.8% of convertible notes in a "pre-packaged" plan that will eliminate the Company's $2.1 billion of bond debt.
Denbury expects to continue normal operations throughout the Court-supervised process. Pursuant to their commitment letter, the Company's existing lenders will provide a debtor-in-possession ("DIP") revolving loan that will "roll" into an exit facility with up to $615 million in availability.
Related Categories :
Bankruptcy - Filing
More Bankruptcy - Filing News
-
ION Geophysical Files for Bankruptcy
-
Basic Energy Services Files for Bankruptcy; Inks Stalking Horse Deals
-
HighPoint Files Chapter 11 Ahead of Merger with Bonanza Creek
-
SCOOP / STACK Operator Files for Bankruptcy
-
Superior Energy Services Files for Bankruptcy
Rockies News >>>
-
Large E&P Chops Permian/Anadarko Basin Frac Activity by 30% In 2024
-
Contrary to The Noise, U.S. Oil Production will Likely Growth 4-5% In 2024; A look Inside -
-
Devon Said To be In Talks to Acquire Enerplus
-
Chevron To Cut D&C Activity in U.S. Shale In 2024; Here is Where. -
-
An Early Look at Company 2024 Capital & Development Plans