Corporate bankruptcies in Texas jumped more than 40 percent in 2016 and are up 80 percent during the past two years, according to new data research by Androvett Legal Media. Analysts attribute the increase in business bankruptcies to turmoil in the oil and gas sector. More than 150 oil and gas companies filed for bankruptcy in 2016 – 71 of them were exploration and production operations with a cumulative debt of $56.8 billion, according to Haynes and Boone’s Oil and Gas Bankruptcy Monitor. The Texas Lawbook has all the data and analysis, including a predict that the next round of business bankruptcies may extend far beyond the energy sector.
More Stories
Former ABA Journal Editor Allen Pusey Joins The Texas Lawbook
Prominent legal and investigative journalist Allen Pusey is joining The Texas Lawbook as a senior editor and writer starting today. Pusey retired in December as the editor and publisher of the ABA Journal. He spent 26 years as a reporter and editor at The Dallas Morning News, where he was a special projects editor and covered the Supreme Court of the United States. Pusey brings extraordinary experience and knowledge of the legal industry to The Texas Lawbook.
Former ABA Journal Editor Allen Pusey Joins The Texas Lawbook
Prominent legal and investigative journalist Allen Pusey is joining The Texas Lawbook as a senior editor and writer starting today. Pusey retired in December as the editor and publisher of the ABA Journal. He spent 26 years as a reporter and editor at The Dallas Morning News, where he was a special projects editor and covered the Supreme Court of the United States. Pusey brings extraordinary experience and knowledge of the legal industry to The Texas Lawbook.
Yogurt CEO Settles SEC Charges of Immigrant Investor Program Abuse
The SEC’s Fort Worth Office charged Fsmoothie and yogurt franchises operator Adam Ogden with wrongly using investor funding intended to create jobs through the EB-5 Immigrant Investor Program. Juiceblendz and Yoblendz CEO Ogden agreed to pay $1.2 million in fines and restitution to resolve charges that he violated federal securities laws when he misused investor funds.
V&E and Baker Botts Lead Select Energy’s Securities Offering
Gainesville-based Select Energy Services turned to Texas’ two most prominent energy law firms to advise the company in its private placement of 16,100,000 shares of its Class A-1 common stock for aggregate gross proceeds of $322 million.
V&E and Baker Botts Lead Select Energy’s Securities Offering
Gainesville-based Select Energy Services turned to Texas’ two most prominent energy law firms to advise the company in its private placement of 16,100,000 shares of its Class A-1 common stock for aggregate gross proceeds of $322 million.
Jones Day Elevates Five to Partner in Texas
Three of the attorneys are based in Dallas, and two are in the Houston office.
Alta Marcellus Taps Kirkland for Two Christmas Week Acquisitions
Andrew Calder and the M&A team at Kirkland & Ellis helped Houston-based Alta Resources Development add two shiny new assets under the shale oil and gas developer’s Christmas tree.
Kirkland and Latham Work on PE Investment in San Antonio Midstream Co
Alberta Investment Management Corp. (AIMCo) has agreed to purchase a 28 percent ownership stake in San Antonio-based Howard Energy Partners from its EnLink Midstream Partners, AIMCo said Tuesday. Both companies turned to a group of Houston lawyers to handle the deal.
Two Houston Companies Combine for $400M
Houston blank check company KLR Energy said Tuesday that it will combine businesses with Tema Oil and Gas Co., a fellow Houston company with assets in the core of the Delaware Basin, for $400 million.