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News Stories (90 Results) - Oil & Gas

Tiger Group and Liquidity Services are conducting the sale, which boasts more than 180 lots from two locations in Victoria, Texas, as part of a series of court-ordered auctions related to the bankruptcy of El Dorado Gas & Oil, Inc. (Bankruptcy Case... Read Story
July 24, 2024, 07:00 AM


The Spring 2024 Haynes and Boone borrowing base and price deck surveys revealed lenders are increasingly bullish on oil prices contrasted by a severe near-term slump in natural gas markets, and market players expect asset divestments driven by a... Read Story
May 23, 2024, 07:06 AM


Utica Equipment Finance completed a $3,250,000 capital lease for a Texas-based company specializing in oil and gas equipment rentals in the last week of February. The transaction is secured by light towers, generators, man lifts, and forklifts. This... Read Story
March 12, 2024, 07:35 AM


First National Capital provided a $35,000,000 debt refinance for a growing upstream oil & gas, machining, and forging Ccmpany.The company had been recovering from COVID-19 impacts, below average EBITDA, and compressed EBIT with high concentration in... Read Story
January 30, 2024, 05:00 AM


Zions Bancorporation, through its Utah division, Zions Bank closed and funded a $50 million credit facility for a distributor of oil and natural gas and service company. The credit facility consisted of a multi-year revolving line of credit.  ... Read Story
January 24, 2024, 07:53 AM


Fourshore Partners announced its acquisition of Power Funding, a premier factoring company focused on the oil & gas and transportation industries.Power Funding provides working capital to the oil & gas and trucking industries through the purchase of... Read Story
January 02, 2024, 07:59 AM


Lycos Energy entered into an amending agreement with the National Bank of Canada to increase its existing revolving credit facility from $35.0 million to $50.0 million. The credit facility provides added financial flexibility to support the Company's... Read Story
December 05, 2023, 06:00 AM


North Hudson Resource Partners, a Houston-based energy investment firm, launched of its inaugural credit fund, North Hudson Energy Credit Partners LP (“NH Energy Credit”). NH Energy Credit seeks to deploy $275 million of capital to support... Read Story
February 06, 2023, 07:47 AM


Producers Midstream II, LLC, a Dallas-based portfolio company of Tailwater Capital focused on providing a full suite of turnkey midstream solutions to producers across the U.S., secured a new syndicated credit facility led by Texas Capital Bancshares... Read Story
June 24, 2022, 07:40 AM


ProPetro Holding Corp. extended its existing asset-based loan facility to a five-year term and a reduction of commitments from $300 million to $150 million. The Amended ABL will extend the maturity from 2023 to 2027 and, through updated advance... Read Story
April 14, 2022, 07:38 AM


Seadrill Limited announced that it anticipates emerging from the Chapter 11 process in February 2022, likely prior to the end of the present week. As previously announced, Seadrill's Chapter 11 plan of reorganization (the “Plan”) was confirmed by the... Read Story
February 22, 2022, 07:05 AM


Pipestone Energy Corp. successfully increased its Reserve Based Loan (“RBL” or “Credit Facility”) to $280 million, from $225 million previously. The Credit Facility upsize is driven by Pipestone’s efficient execution of its organic development... Read Story
November 01, 2021, 07:14 AM


Houlihan Lokey announced that Tom Carlson has joined the firm as a Managing Director in the Oil & Gas Group. He is based in Houston.Carlson joins Houlihan Lokey with more than two decades of experience advising clients across the oil and gas sector... Read Story
September 09, 2021, 07:33 AM


AlixPartners announced Eric Nelsen, a seasoned expert in the oil & gas industry and in industrial revenue and growth areas in several industries, has joined as a Managing Director. He will be based in AlixPartners’ Houston office. During his more... Read Story
August 17, 2021, 07:14 AM


The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high and is set to grow even further this year as the wave of Chapter 11 filings continues, a Rystad Energy report projects, analyzing industry... Read Story
October 27, 2020, 08:27 AM


Newpark Resources, Inc. announced that it has entered into a first amendment to its existing credit agreement, which amends and extends its outstanding credit agreement, increases its asset-based revolving loan from $150 million to $200 million, and... Read Story
March 22, 2019, 08:01 AM


Rimrock Energy Partners, LLC announced a senior secured credit facility of $200 million led by BOK Financial. The proceeds from this facility will be used to support the buildout of REP’s natural gas gathering and processing system which serves... Read Story
March 12, 2019, 07:00 AM


A steady drumbeat of disruption is a key driver of industries facing the need for transformative change, according to global consulting firm AlixPartners’ 14th annual survey of international restructuring experts released. New technology, rapid-fire... Read Story
February 06, 2019, 07:24 AM


Murphy Oil Corporation announced that its wholly owned subsidiary, Murphy Exploration & Production Company - USA, has closed the previously announced strategic deep water Gulf of Mexico joint venture with Petrobras America Inc., a subsidiary of... Read Story
December 03, 2018, 08:00 AM


Laredo Energy VI, LP announced that it closed a $200 million Senior Secured Delayed Draw Term Loan Facility maturing on November 18, 2021. Laredo used the proceeds from the Term Loan to pay down all borrowings under the Company’s revolving credit... Read Story
November 30, 2018, 08:00 AM


Aegean Marine Petroleum Network Inc. announced that the Company and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code in the Bankruptcy Court for the Southern District of New York. The debtors... Read Story
November 07, 2018, 08:12 AM


Northern Oil and Gas, Inc. announced that it has closed an agreement with Royal Bank of Canada, as administrative agent, and a syndicate of lenders under a new $750 million first lien revolving credit facility. RBC Capital Markets, ABN AMRO, Capital... Read Story
October 08, 2018, 07:57 AM


Diamond Offshore Drilling, Inc., as the U.S. borrower, and the Company’s wholly owned subsidiary, Diamond Foreign Asset Company, a Cayman Islands exempted company (DFAC), as the foreign borrower, entered into a senior 5-Year Revolving Credit... Read Story
October 08, 2018, 07:08 AM


Haynes and Boone, LLP released its Fall 2018 Energy Roundup, a comprehensive report on the industry that reflects an improved outlook for oil and gas producers. The Energy Roundup includes the firm’s latest “Borrowing Base Redeterminations Survey,”... Read Story
September 28, 2018, 07:11 AM


Chiron Financial LLC served as investment banker to Pitchfork Cattle Company LLC (known as "Pitchfork Ranch") in the sale of substantially all of its assets to a large oil and gas company with operations in the region. The ranch operations included... Read Story
September 21, 2018, 07:25 AM


Wells Fargo Securities, the investment banking and capital markets business of Wells Fargo & Company, announced that Scott Van Bergh has joined as vice chairman in the Energy & Power Investment Banking group. Van Bergh will provide advice and... Read Story
July 25, 2018, 07:48 AM


PNC Bank, National Association, announced the closing of a $575 million credit facility for Warren, PA-based United Refining Company (United). Founded in 1902, United is an independent refiner and marketer of petroleum products, beneficially owned by... Read Story
July 25, 2018, 07:12 AM


Comstock Resources, Inc. announced that it has obtained commitments from a syndicate of thirteen banks for a new five year reserve-based revolving credit facility with an initial borrowing base of $700.0 million.  The New Credit Facility is subject... Read Story
July 11, 2018, 07:15 AM


Rowan Lux, as borrower, and Rowan, an offshore drilling company, entered into the New Credit Agreement with Wells Fargo, as administrative agent, an issuing lender and a swingline lender, the lenders party thereto and the other parties thereto. The... Read Story
May 29, 2018, 07:09 AM


Range Resources Corporation announced that it has renewed and extended its revolving credit facility. The new five-year agreement with a syndicate of twenty-seven financial institutions with JPMorgan Chase Bank, N.A., as administrative agent. The... Read Story
April 17, 2018, 07:00 AM


Whiting Petroleum Corporation and its subsidiary Whiting Oil and Gas Corporation entered into a Seventh Amended and Restated Credit Agreement with the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other agents... Read Story
April 13, 2018, 07:11 AM


Haynes and Boone, LLP’s spring 2018 survey of oil and gas borrowers and lenders demonstrates a modestly improved outlook for the upstream oil and gas industry.In its “Borrowing Base Redeterminations Survey: Spring 2018,” the firm polled a... Read Story
April 12, 2018, 07:09 AM


Delek US Holdings, Inc. announced that it has closed on a new $1.0 billion senior secured revolving ABL credit facility and a $700.0 million senior secured term loan B. These Facilities are expected to simplify the debt structure as they consolidate... Read Story
April 02, 2018, 08:00 AM


Sallyport Commercial Finance provided a $4,000,000 working capital facility, including a $720,000 Term Loan as part of an Acquisition finance package to support the purchase of a Gas, Diesel and Propane distribution business out of bankruptcy in... Read Story
April 02, 2018, 07:06 AM


CIT Group Inc. announced that CIT Northbridge Credit served as sole lead arranger on a three-year, $20 million senior secured revolving and term loan credit facility for Arkos Field Services LP, a leading provider of aftermarket services to the... Read Story
March 29, 2018, 07:15 AM


Diversified Gas & Oil PLC, a U.S.-based acquirer and operator of oil and gas producing assets, has entered into a $500 million, five-year, senior secured revolving credit facility with a syndicate of seven U.S. banks, led by KeyBank N.A. KeyBanc... Read Story
March 19, 2018, 07:00 AM


Petrobras signed a revolving credit facility (RCF) in the amount of US$ 4.35 billion with a syndicate of 17 banks, with maturity in March 2023. Through the instrument, the company may make withdrawals from the line until the month prior to... Read Story
March 09, 2018, 06:59 AM


ProPetro Holding Corp. announced the successful deployment of its 17th and 18th fleets (45,000 hydraulic horsepower  each, or a total of 90,000HHP). The fleets were put into service for existing dedicated customers in January and February and brings... Read Story
March 01, 2018, 07:50 AM


FTS International, Inc. entered into a Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and the several lenders party thereto, pursuant to which the Lenders agreed to provide the Company an asset-based lending... Read Story
February 26, 2018, 07:35 AM


Global oil and gas deal volume hit a five-year low in 2017, and total global transaction value fell to $343 billion from $390 billion in 2016. This is according to the EY Global oil and gas transaction review 2017, which also found that while 2017... Read Story
February 23, 2018, 07:08 AM


Diversified Gas & Oil PLC, a U.S.-based acquirer and operator of oil and gas producing assets, announced the commitment of a new $500 million, five-year senior secured revolving credit facility led by KeyBank. The Facility will be subject to an... Read Story
February 21, 2018, 07:21 AM


Siena Lending Group announced the completion of a $19.5 million revolving and term loan credit facility for Stewart Tubular Products, LLC to refinance the company's existing senior debt and to support their working capital needs. The transaction was... Read Story
January 30, 2018, 07:05 AM


EXCO Resources, Inc., an oil and natural gas exploration firm, announced that in order to facilitate a restructuring of its balance sheet, the company and certain of its subsidiaries have filed voluntary petitions for a court-supervised... Read Story
January 16, 2018, 07:28 AM


Citizens Bank announced that Citizens Commercial Banking has provided a $25 million credit facility to Newington, NH-based SEA-3, LLC, a liquefied petroleum gas wholesale storage and distribution terminal operator located on the Piscataqua River and... Read Story
December 20, 2017, 08:00 AM


Global investment bank Houlihan Lokey announced that Victor Barcot has joined the firm as a Managing Director in the Oil & Gas Exploration and Production (E&P) Group. He is based in Houston.Barcot joins from Deutsche Bank, where he was a Managing... Read Story
December 15, 2017, 07:21 AM


Encina Business Credit, LLC (EBC) announced that it has provided a $40 million asset-based revolving credit facility to an oilfield services company. The credit facility consists of a revolver secured by accounts receivable, the proceeds of which... Read Story
December 14, 2017, 07:16 AM


The rate of exploration and production (E&P) bankruptcy filings in the energy sector has continued to drop over the course of 2017, with total filings down by more than two-thirds compared to the same period in 2016, according to the law firm of... Read Story
November 17, 2017, 07:08 AM


Northern Oil and Gas, Inc. announced it has closed an agreement with TPG Sixth Street Partners for a new $400 million first lien credit facility. At the closing, an initial amount of $300 million was funded – an additional $100 million of delayed... Read Story
November 03, 2017, 07:37 AM


Reduced spending for oil and gas exploration is limiting availability of quality deepwater assets for merger and acquisition (M&A) deals, according to a new report by IHS Markit. This lack of deepwater asset inventory is challenging E&P (exploration... Read Story
October 24, 2017, 07:20 AM


Newpark Resources, Inc. announced that it has entered into an Amended and Restated Credit Agreement, which amends and restates the company's previous credit agreement and increases the asset-based revolving loan facility from $90 million to $150... Read Story
October 20, 2017, 07:08 AM


Goodrich Petroleum Corporation announced that it has entered into a $250 million Senior Secured Revolving Credit Agreement with JPMorgan Chase Bank, N.A. as Joint Lead Arranger, Sole Bookrunner and Administrative Agent and SunTrust Bank and SunTrust... Read Story
October 19, 2017, 07:08 AM


In September, Haynes and Boone, LLP polled oil and gas producers, oilfield services companies, energy lenders, private equity firms, and other industry participants to get their predictions about producers' future borrowing capacity or "borrowing... Read Story
October 09, 2017, 07:19 AM


On Point Oilfield Holdings, LLC successfully closed on a $250 million senior credit facility with Texas Capital Bank. On Point is an oilfield fluids waste solutions company that acquires, develops, and operates saltwater disposal wells and saltwater... Read Story
October 06, 2017, 07:02 AM


White Oak Commercial Finance, LLC  announced that it has recently closed two new Asset-Based Loan Facilities for Houston-based service businesses – the first, to a preeminent provider of environmental clean-up services and industrial safety solutions... Read Story
September 26, 2017, 08:01 AM


ExWorks Capital provided $10 million in working and growth capital to a U.S.-based firm that provides services to the oil and gas industry. The Ohio-based company was formed in 2016 to service the oil and gas industry. The company performs... Read Story
September 22, 2017, 07:00 AM


Encina Business Credit, LLC (EBC) announced that it has provided a $23 million senior secured credit facility to Tejas Tubular Products, Inc. and certain of its affiliates (Tejas). The financing, which is comprised of a revolving line of credit and... Read Story
September 14, 2017, 07:16 AM


Seadrill Limited has entered into a restructuring agreement with more than 97 percent of its secured bank lenders, approximately 40 percent of its bondholders and a consortium of investors led by its largest shareholder, Hemen Holding Ltd. The... Read Story
September 13, 2017, 07:01 AM


The outlook for the global oilfield services and drilling sector (OFS) remains stable, Moody's Investors Service says in a new report. After two years of severe demand and price erosion, 2017 marks a turning point for revenues, earnings and cash... Read Story
September 05, 2017, 07:08 AM


Carl Marks Advisors, a corporate restructuring and investment banking firm serving middle market companies, announced the promotion of Brian Williams to Partner. With a primary focus in the energy industry, Williams has 20 years of strategic advisory... Read Story
August 25, 2017, 07:21 AM


Kingfisher Midstream, LLC, a private gathering and processing midstream company, has entered into a $200 million senior secured revolving credit facility with ABN AMRO Capital USA, LLC as Administrative Agent, Book Runner and Lead Arranger. East West... Read Story
August 10, 2017, 07:07 AM


Hornbeck Offshore Services, Inc. announced that the company has refinanced its existing $200 million senior secured revolving credit facility with a new first-lien delayed-draw credit facility providing for up to $300 million of term loans. The... Read Story
June 16, 2017, 07:06 AM


A syndicate of lenders has agreed to increase the size of Seven Generations Energy Ltd.'s senior secured credit facility by about 27%, from $1.1 billion to $1.4 billion. With this increase, 7G had available funding of about $1.9 billion as of March... Read Story
June 12, 2017, 07:12 AM


Callon Petroleum Company announced it has entered into an amended and restated credit agreement with respect to the senior secured revolving credit facility. The agreement extends the maturity date of the Facility until May 25, 2022, increases the... Read Story
June 02, 2017, 07:15 AM


Tidewater Inc. announced that it and certain of its subsidiaries have filed voluntary petitions under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware to pursue a prepackaged plan of... Read Story
May 18, 2017, 07:17 AM


The number of North American oil and gas producers filing for bankruptcy has dropped significantly this quarter, with just nine producers seeking court protection, compared to 29 during the same period last year. That's according to a recently... Read Story
May 08, 2017, 07:18 AM


MidCap Business Credit announced that it has completed a $6 million Asset Based Credit Facility to Summit Casing Equipment, a portfolio company of Renovo Capital, a Dallas based private equity firm. Summit Casing Equipment, manufactures and... Read Story
April 28, 2017, 07:06 AM


Pin Oak Terminals LLC announced that it has closed on a debt facility provided by co-lead arrangers Sumitomo Mitsui Banking Corporation (SMBC) and ING Capital LLC to complete construction of the current phase of contracted tanks at Pin Oak's site in... Read Story
April 21, 2017, 07:14 AM


ONEOK, Inc. announced a new $2.5 billion, five-year senior unsecured revolving credit facility, to replace the existing ONEOK and ONEOK Partners, L.P. credit facilities. The new facility will be available upon the completion of the previously... Read Story
April 19, 2017, 07:16 AM


Lending to the U.S. oil and gas industry is expected to expand in 2017, according to a new report from Haynes & Boone that projects a modestly improved outlook for the sector.In its “Borrowing Base Redeterminations Survey: Spring 2017,” the firm... Read Story
April 06, 2017, 07:18 AM


Archrock Partners, L.P. , a provider of natural gas compression services, announced that the partnership has closed on a new five-year $1.1 billion asset-based revolving credit facility. The new credit facility will mature on March 30, 2022, except... Read Story
March 31, 2017, 07:16 AM


Midstream provider Lucid Energy Group announced that the company has completed the refinancing and expansion of its two senior revolving credit facilities. The additional financing will be used to support Lucid’s growth strategies in the Midland and... Read Story
March 15, 2017, 07:36 AM


Resolute Energy Corporation closed on its amended and restated revolving credit facility, with an initial borrowing base of $150 million, an increase from the previous level of $105 million. In addition, the maturity date of the facility was extended... Read Story
February 24, 2017, 07:13 AM


NGL Energy Partners LP (NGL) announced that the Partnership has successfully amended and extended its revolving credit facility extending the term of the facility to October 2021. The amended facility has an initial borrowing capacity of $1.765... Read Story
February 15, 2017, 07:00 AM


Encina Business Credit, LLC (EBC) announced that it has provided a $15 million asset-based revolving credit facility to a manufacturer and service provider for the oil & gas industry that is based in the Southwestern U.S. The credit facility consists... Read Story
February 14, 2017, 07:40 AM


Carl Marks Advisors, a leading consulting and investment banking advisory firm to middle-market companies, today announced that Brian A. Williams has joined the firm as managing director, supporting their investment banking and advisory teams in the... Read Story
May 06, 2016, 07:32 AM


Fitch Ratings believes asset quality for business development companies (BDCs) could deteriorate further in 2016 following challenging energy performance in 2015, according to Fitch's latest North American Financial Institutions Chart of the Month.... Read Story
March 21, 2016, 08:16 AM


Tiger Capital Group and Liquidity Services announced the launch of a partnership geared toward helping insolvency and turnaround professionals ramp up their services to the turbulent oil and gas market, as well as directly assist companies seeking to... Read Story
February 16, 2016, 07:46 AM


Recent leveraged loan price volatility presents increased risks and opportunities for CLO managers, Fitch Ratings says. Managers in volatile markets are challenged to make credit calls that may significantly affect long-term performance for CLO... Read Story
December 29, 2015, 07:33 AM


Midstream transactions drove oil and gas strategic dealmaking efforts in the second quarter of 2015 as companies adapt their operations and business objectives to the lower oil price environment, according to PwC US.  In total, mergers and... Read Story
August 10, 2015, 07:59 AM


First Growth Capital, a division of First Capital, announced the hiring of Sarah Stredic as Vice President and Business Development Officer. Stredic will be based in Midland, TX and will be responsible for Business Development and Marketing... Read Story
October 08, 2014, 07:22 AM


1836 Capital, LLC announced it has completed a debt placement on the acquisition of a well drilling and maintenance company in West Texas. 1836 Capital, LLC was engaged by a private equity firm to assist with the leveraged buyout of the oilfield... Read Story
August 12, 2014, 07:04 AM


TAB Bank is pleased to announce it has provided a $3 million credit facility for a manufacturing company located in California.  The company produces custom machined products for the semi-conductor, gas and oil, and aerospace industries.  The new... Read Story
March 19, 2014, 07:39 AM


Monroe Capital LLC announced the funding of a $17 million senior secured credit facility to support the merger of Landpoint, LLC, West Company of Midland LLC, and King Surveyors, LLC. Based in Bossier City, Louisiana, Landpoint, LLC is one of the... Read Story
December 23, 2013, 07:01 AM


First Capital provided a $6.8 millioncredit facility to Advanced Pipeline Services, LLC, a provider of construction, installation, and maintenance services for oil and gas pipeline and field processing infrastructure. The senior credit facility... Read Story
December 11, 2013, 07:00 AM


Deloitte Corporate Finance LLC ("DCF") is acting as financial advisor to Wyoming-based Elkhorn Holdings, Inc. ("Elkhorn"), a leading employee-owned, turnkey provider of infrastructure construction and maintenance services to high-growth U.S. energy... Read Story
November 12, 2013, 07:48 AM


PNC Bank, N.A., announced the closing of a $18 million asset based revolver for Horizon Mud Company. Based in Midland, Texas, the company is using the funds to refinance existing debt and provide ongoing working capital. Horizon Mud Company provides... Read Story
November 07, 2013, 07:56 AM


Mitcham Industries announced it has entered into a three-year $50 million syndicated revolving credit facility with HSBC Bank USA acting as administrative agent.  This facility replaces the company's prior revolving credit agreement with First... Read Story
August 05, 2013, 07:29 AM


Willbros Group announced that it will pursue a refinancing of its outstanding term loan and revolving credit facilities. The company expects the refinancing to enable it to borrow new funds at a lower interest rate, to extend the maturity of its debt... Read Story
July 08, 2013, 08:02 AM


GE Energy Financial Services, a unit of GE, has closed a $200 million senior secured credit facility subject to a $135 million initial borrowing base for SND Consolidated Energy LLC to refinance debt and fund oil and gas field development in East... Read Story
May 16, 2013, 08:02 AM


Western Refining announced the successful completion of an amendment and restatement of its revolving credit agreement. The amended agreement, which is comprised of a syndicate of banks with commitments of $900.0 million, matures in April 2018.... Read Story
April 12, 2013, 08:12 AM