Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Bankruptcy / Restructure Update | Financial Trouble | Capital Markets

Denbury Resources Files Chapter 11 Bankruptcy

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Wednesday,July 29,2020

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

Rockies News >>>

United States News >>>