Another oil and gas company has filed for bankruptcy protection, this time Houston-based Sanchez Energy Corp.
Houston oil and gas explorer Halcón Resources filed for Chapter 11 bankruptcy a second time – and went with the same law firm it did the last go around. Claire Poole has the names.
The oilfield services company reported to the bankruptcy court in Houston that it had as much as $10 billion in liabilities, including $7.5 billion in unsecured bond debt.
Monitronics International Inc. said Monday it had filed and that it hoped to emerge from bankruptcy within about 75 days.
Exco Resources is paying its legal and financial advisors $4 million a month to help guide the company through bankruptcy. Since the Dallas oil and gas operation filed for Chapter 11 protection last year, Exco has paid the lawyers and other restructuring experts $61.6 million. The Texas Lawbook has exclusive details.
The Dallas oil and natural gas company expects to complete the financial restructuring process in the coming weeks. Exco will reduce its leverage by more than $1.1 billion.
Prior to joining Shearman, Lucky McDowell practiced for his entire 17-year career at Baker Botts.
Adeptus Health General Counsel Tim Mueller has seen good times and bad times. During a three-year period, Adeptus experienced wild expansion, did an IPO, had its market cap hit $1 billion, filed for bankruptcy and restructured with a new plan for steady growth. Through it all, Mueller’s legal counsel has been both sound and poised. The Lawbook has the story.
Frisco’s Skinny IT – once a rising star in North Texas – has filed for bankruptcy, the Dallas Business Journal reports.
A Haynes and Boone study shows that North American oil and gas bankruptcies fell to just 43 filings in 2018, down from 70 in the prior year. The Houston Chronicle’s Jordan Blum explains.