Since the beginning of 2015, approximately 50 exploration and production companies in the United States and Canada have filed for bankruptcy, with the combined debt of these companies approaching $20 billion.
Debt
Drilling Deeper: The Intersection Of Producer Bankruptcies And Gathering Agreements
By Michael Connelly, David Fournier | Pepper Hamilton LLPSign up and get Breaking Energy news in your inbox.
We will never sell or share your information without your consent. See our privacy policy.Energy News Roundup: Highly-leveraged Firms, Mystery Kurdish Oil Buyers Beware & Climate Insurance Policy Needed
By Jared Anderson
Financial results from 127 global oil and natural gas companies showed increased use of debt to help fund operations – along with asset sales – in recent years amid flat oil prices. Low borrowing rates facilitated this phenomenon, though the long-term sustainability of this strategy is questionable. “Using debt to fuel growth is a typical… Keep reading →
Chesapeake Energy, co-founded by flamboyant and freewheeling Aubrey McClendon, appears to be successfully restructuring in the wake of the former chairman and CEO’s departure. The company today announced positive Q3 earnings and analysts rewarded its upbeat outlook, but investors were less impressed, as share prices were down almost 7% by late afternoon. “We upgrade… Keep reading →
Solar Roundup: Suntech for Sale, First Solar Sells AZ Plant, SolarCity Buys Zep and Guides 2014
By Greentech Media
Suntech for Sale Suntech Power, once the world’s largest solar panel builder, is bankrupt (or the Chinese equivalent) and receiving bids for its main manufacturing unit, according to reports in the Financial Times. Suntech owes a total of $2.3 billion to a number of Chinese banks. The bidders are: Shunfeng Photovoltaic, an acquisitive solar cell maker, which looks… Keep reading →
Connecticut’s Clean Energy Finance and Investment Authority – the state’s Green Bank, and the first of its kind of the country – has established a new solar financing system in a bid to expand capacity in the state. CT Solar Lease II seeks to avoid some of the most frequently-cited criticisms of renewable energy finance,… Keep reading →
The ongoing boom in energy and industry infrastructure around the world, and the high price tags of many of these projects, have created a niche for entities like Siemens Financial Services, which can serve as a specialized financial intermediary for getting projects funded and built. Siemens Financial Services is the finance arm of technology and… Keep reading →
As high-profile solar companies are liquidating, declaring bankruptcy, exiting the market, or being acquired by larger companies, solar project stakeholders are focusing more heavily on assessing the degree of financial risk or “bankability” of a solar energy component provider before choosing them for a project. This applies to anything from the module manufacturer to the… Keep reading →
Moody’s Investors Service lowered its outlook for Russian state-controlled oil giant Rosneft due to a “significant increase” in the company’s leverage and risks associated with the integration of the newly- acquired TNK-BP International Ltd. Although Moody’s put a negative outlook on the company, they left Rosneft’s credit rating unchanged, due to close Kremlin support and… Keep reading →
