Email
Print 
Bookmark
Wall Street Journal is reporting that E&P Energy has won approval to exit bankruptcy, reducing its debt by $3.3 billion. The deal would see Apollo Global and Elliott Management become controlling shareholders.
JP Morgan and Fidelity Management and other bondholders said they were underpaid to the tune of $178 million according to the WSJ.
It is said that Apollo and Elliott would be buying EP Energy equity through a $475 million rights offering which would include cash and debt forgiveness.
Operational,
E&P energy continues to operate 2 rigs in the Uinta Basin project.
Production By Area
Permian : 27,340 Mboe/d
Uinta : 24,Mboe/d
Related Categories :
Bankruptcy / Restructure Update
More Bankruptcy / Restructure Update News
-
ION Geophysical Files for Bankruptcy
-
Vista Proppants Emerges from Bankruptcy; Rebrands as V SandCo LLC
-
Gulfport Energy Emerges from Bankruptcy
-
HighPoint Resources' Bankruptcy Plan Approved by the Courts
-
HighPoint Files Chapter 11 Ahead of Merger with Bonanza Creek
Gulf Coast News >>>
-
Seventeen (17) E&Ps; To Use 47 Frac Crews To Complete 2,800 Wells In 2024
-
These Permian Operators Plan to Complete/Frac 2,100 Wells IN 2024
-
Large E&P Chops Permian/Anadarko Basin Frac Activity by 30% In 2024
-
Permian E&P Ups 2024 Well Completed by +27% vs. 2023
-
Contrary to The Noise, U.S. Oil Production will Likely Growth 4-5% In 2024; A look Inside -
