Debt | Financial Trouble | Capital Markets
Erin Energy Granted Deferment on Loan
Print
|
Erin Energy Corporation has obtained a waiver to the funding requirements of the Debt Service Reserve Account associated with the Zenith Bank Note until December 31, 2016. The Company was also granted a 90-day deferment of the principal payment previously due on March 31, 2016, whilst re-modification discussions of the loan structure continue.
Daniel Ogbonna, Senior Vice President and Chief Financial Officer, said: "We appreciate the continued support of Zenith Bank and their belief in the growth of our company. In this depressed commodity price environment, it is good to have partners that are working with us for the long-term and for the success of Erin Energy."
The Company has satisfied the interest obligations due March 31, 2016 and has formally submitted a loan re-modification…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
More Debt News
Ring Energy Details Preliminary 1Q22 Results; Production Beats Expectations
Ring Energy, Inc. provided an operational and financial update for the Company's first quarter 2022 sales, drilling program and further debt repayment. Highlights and Recent Key Items: Reported…
Marathon Oil Third Quarter 2021 Results
Marathon Oil Corp. reported its Q3 2021 results. Marathon reported third quarter 2021 net income of $184 million, or $0.23 per diluted share, which includes the impact of…
Continental Resources Second Quarter 2021 Results
Continental Resources, Inc. announced its second quarter 2021 operating and financial results. CEO Bill Berry commented: "Continental is delivering strong asset performance in addition to capital and operational…
Extraction Oil & Gas First Quarter 2021 Results
Extraction Oil & Gas, Inc. reported financial and operational results for the first quarter of 2021. Q1 2021 and Other Recent Highlights: Emerged from bankruptcy on January 20,…
SandRidge Energy First Quarter 2021 Results
SandRidge Energy Inc. announced financial and operational results for the quarter ended March 31, 2021. Highlights: Improved net cash1 by $48.2 million to a net cash position of…
Africa - West Africa News
Chevron, Quantum prepare joint bid for Lukoil’s international assets
Chevron and private equity firm Quantum Energy Partners are preparing a joint bid for the international assets of Russian oil major Lukoil, a package estimated to be worth…
Harbour Energy Strikes $3.2B Deal to Buy LLOG, New Core Business
December 2025 — Harbour Energy plc has agreed to acquire 100% of LLOG Exploration Company LLC for $3.2 billion, marking a strategic entry into the deepwater U.S. Gulf…
Harbour Energy Enters U.S. Deepwater With $3.2B LLOG Acquisition
Harbour Energy has agreed to acquire LLOG Exploration Company LLC for $3.2 billion, marking Harbour’s strategic entry into the deepwater U.S. Gulf of America and establishing what it…
APA Corporation First Quarter 2023 Results
APA Corporation announced first quarter 2023 results. Highlights Reported production of 394,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax…
Evolution Petroleum Corporation Fiscal Third Quarter 2023 Results
Evolution Petroleum Corporation announced fiscal third quarter 2023 results. Highlights Reported sequential growth in revenue of 9% to a record $36.9 million and in net income of 34%…
Offshore News
W&T Offshore, Inc., First Quarter 2023 Results
W&T Offshore, Inc., announced first quarter 2023 results. Highlights Reported first quarter 2023 production of 32.5 thousand barrels of oil equivalent per day ("MBoe/d") (56% liquids), or 2.9…
Talos Energy Inc. First Quarter 2023 Results
Talos Energy, Inc.announced first quarter 2023 results. Highlights Authorized a $100.0 million share repurchase program in March 2023 and repurchased 1.9 million shares through the end of the…
Kosmos Energy Ltd. First Quarter 2023 Results
Kosmos Energy Ltd. announced first quarter 2023 results. Highlights Net Production(2): ~58,800 barrels of oil equivalent per day (boepd), with sales of ~61,100 boepd Revenues: $394 million, or…
Marathon Oil Corporation First Quarter 2023 Results
Marathon Oil Corporation First Quarter 2023 Results Highlights Continued delivery against differentiated Return of Capital Framework, exceeding commitment to return at least 40% of adjusted CFO to shareholders…
Murphy Oil Corporation First Quarter 2023 Results
Murphy Oil Corporation announced first quarter 2023 results. Highlights Exceeded upper end of guidance range with production of 172.5 thousand barrels of oil equivalent per day (MBOEPD), including…