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Company & Debtor Representations

Experience Highlights

  • Publicly-traded energy services company in connection with evaluating various liability management alternatives resulting in an out-of-court capital raise and settlement of material litigation, and effectively positioning the company for a strategic combination

  • Upstream E&P company in the approximately $215 million distressed sale of substantially all of their assets in Sublette County, Wyoming (Pinedale Field) to a strategic buyer with the consent of the company’s lenders, who cancelled all debt in excess of the purchase price in connection with the out-of-court transaction

  • Jonah Energy in an out-of-court restructuring involving a deleveraging of the company’s balance sheet by approximately $580 million through a rights offering, tender offer, and redemption of non-tendered notes, together with an amended and restated credit agreement of Jonah’s $750 million credit facility

  • Lilis Energy in an in-court sale process in which substantially all of the company’s operating assets were sold to Ameredev Texas LLC as part of its chapter 11 cases involving approximately $400 million in total liabilities plus the confirmation of a chapter 11 plan in the U.S. Bankruptcy Court for the Southern District of Texas

  • Unit Corporation in its prearranged chapter 11 cases involving the deleveraging of more than $650 million via a debt-for-equity transaction with the company’s subordinated noteholders

  • Meritage Midstream in an out-of-court restructuring involving a new $75 million debt investment by Riverstone Holdings, amendment and extension of Meritage’s $500 million credit facility, and resolution of protracted litigation with a significant contractor

  • Carbo Ceramics in an in-court restructuring involving a debt-for-equity exchange with the company’s prepetition and DIP lenders

  • Cloud Peak Energy in the sale of substantially all their operating assets to an affiliate of the Navajo Nation as part of its chapter 11 cases involving approximately $350 million in funded debt and over $750 million in total liabilities

  • CSI Compressco in an out-of-court exchange process whereby approximately 72.7% of the company’s existing unsecured notes were exchanged for new senior secured first and second lien notes, which, among other things, resulted in a multi-year maturity extension for the exchanged notes

  • Taco Bueno Restaurants in a prepetition debt sale transaction followed by an in-court restructuring in the U.S. Bankruptcy Court for the Northern District of Texas that involved equitizing $140 million in senior secured debt, transitioning ownership to an affiliate of Sun Holdings, Inc., renegotiating a substantial portion of the company’s lease portfolio, and reaching a global settlement with unsecured creditors in fewer than 45 days

  • Harvey Gulf International Marine in an in-court restructuring of a James Act Operator in its complex balance sheet restructuring addressing $1.3 billion in senior secured debt and deleveraging the company by nearly $900 million

  • Energy XXI in an in-court restructuring in which the company consensually equitized more than $3.6 billion in funded debt after extensive litigation related to complex corporate structure, intercompany transactions, and significant commodity price fluctuations

  • Natural Resource Partners in an out-of-court restructuring involving an amendment of the company’s revolving credit facility, private exchange offer of $241 million of the company’s outstanding senior notes into longer term senior notes, and $250 million in new money equity investment in the form of preferred equity and warrants

  • Goodrich Petroleum in out-of-court restructuring transactions and in-court restructuring involving the deleveraging of nearly $450 million

  • Numerous confidential company representations as companies navigate out-of-court credit facility amendments, financings, and business combinations