Service & Supply | Oilfield Services | Bankruptcy / Restructure Update | Financial Trouble | Capital Markets
Superior Energy Services Files for Bankruptcy
Email
Print 
Bookmark
Superior Energy Services has entered into a restructuring support agreement with a group of its senior noteholders that collectively hold or control approximately 69.2% of the Company’s senior unsecured notes.
The proposed comprehensive financial recapitalization would deleverage 100% of the Company’s long-term debt and related interest costs, provide access to additional financing and establish a capital structure that the Company believes will allow the Company to thrive in a low-commodity-price environment.
The transactions contemplated by the Restructuring Support Agreement are expected to close before the end of 2020.
At the end of the second quarter the company had a net debt of $1 billion.
Related Categories :
Bankruptcy - Filing
More Bankruptcy - Filing News
-
SCOOP / STACK Operator Files for Bankruptcy
-
Oasis Petroleum Files Chapter 11 Bankruptcy
-
Eagle Ford E&P With Acreage In Gonzales & DeWitt Files Bankruptcy -
-
Natural Gas Focused E&P Files Bankruptcy; Plans to Liquidate -
-
FTS International Files Chapter 11 Bankruptcy
United States News >>>
-
EIA Reports Crude Inventory Increase of 21.6 Million Barrels -
-
Denbury Inc. 2021 Capital Plan; Fourth Quarter, Full Year 2020 Results
-
Despite Ramping Up D&C Activity, Operators to Keep Production Flat for 2021
-
Chevron Invests in Renewables-Focused PE Firm -
-
Phillips 66 Taps Former Chevron Chemical Exec as New COO/President -
