E & P News
Pioneer CEO Talks Oil Market; Shut-Ins, $30 WTI
Unit Corp. to Miss $21 Million Interest Payment; Financial Trouble
Unit Corp is electing to not make its $21.5 million interest payment. See below. This is the first sign that the company will likely file chapter 11 bankruptcy.…
Another Eagle Ford Operator Cites Going Concern, Possible Default
Eagle Ford pure-player Sundance Energy Inc. posted its 10k and buried deep in is a note about going concern and waivers. From the information below, Sundance was able…
Point Loma Execs, Directors Depart Company as Creditors Step In
Point Loma Resources Ltd. reported that the directors of the Corporation have resigned, the officers have been terminated and the senior secured creditors have been given consent to…
Centennial Finalizes $450MM Debt Swap Transaction
Centennial Resource Development Inc. has finalized a ~$450 million debt swap transaction. Centennial offered to all eligible holders to exchange any and all of their outstanding 5.375% Senior…
ConocoPhillips CFO Retires; Successor Named
ConocoPhillips announced the retirement of Don E. Wallette, Jr. as executive vice president and chief financial officer after a successful 39-year career with the company. Wallette's retirement is…
Journey Energy First Quarter 2020 Results
Journey Energy Inc. reported its Q1 2020 results. Highlights for the first quarter are as follows: Achieved production of 9,325 boe/d in the first quarter. Liquids (oil and…
SandRidge Energy First Quarter 2020 Results; Sells Corporate HQ
SandRidge Energy, Inc. reported its Q1 2020 results. Results and highlights during the quarter: Produced 28.2 MBoepd for the quarter Incurred a net loss of $13 million, or…
Crescent Point Out of NYSE Compliance
Crescent Point Energy Corp. received notice that its common stock was not in compliance with the NYSE's continued listing standard requiring the average closing price of its common…
Denbury Resources First Quarter 2020 Results
Denbury Resources Inc. announced its first quarter 2020 financial and operating results. Q1 Highlights Net income of $74 million, or $0.14 per diluted share Adjusted net income(1) (a…
Oasis Q1: Borrowing Base Cut 52%; Suspension of D&C Activity
Oasis Petroleum Inc. announced financial and operating results for the first quarter of 2020 and updated its 2020 outlook. Here are the highlights from its report and call:…
DEAL CANCELLED: PE-Backed Company Walks Away From $225 Million Water Deal
Centennial Resource Development's sale of saltwater disposal wells and associated produced water infrastructure located primarily in Reeves County, Texas to a subsidiary of WaterBridge Resources LLC has been…
Diamondback Subsidiary Energen Launches $400MM Debt Exchange
Diamondback Energy Inc. subsidiary Energen Corp. has commenced a cash tender offer to purchase any and all of Energen's 4.625% Senior Notes due 2021. As of May 15,…
DJ Basin E&P Heading to Bankruptcy; Missed Interest Payment
Extraction Oil & Gas, the DJ Basin focused E&P, says it is not making its $14.8 milllon interest payment on its 7.375% senior notes due 2024. The company…
Large GOM E&P Headed Toward Bankruptcy Again; Chapter 22
Fieldwood Energy LLC is likely headed toward its second bankruptcy filing in two years, according to a report by The Wall Street Journal. The company has tapped Weil…
| Commodity | Price | % Change |
|---|---|---|
| Brent Crude Oil | 94.99 | -14.10% |
| Light Crude Oil | 89.46 | -12.37% |
| Natural Gas | 3.04 | 10.14% |