Bankrupt Shale Drillers

escveritas
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Bankrupt Shale Drillers

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  • Sable Permian Resources, owed $650 Million to lenders, agreed to be acquired by the lenders, in a deal arranged by JP Morgan. Secure bondholders who were owed $700 Million were wiped out though. The oil reserves that Banks lent against with, turned out to be less in value afterwards
  • Alta Mesa Resources, had more than $1 Billion debt, with only USD 110 Million cash in hand
  • Arena Energy, saddled with more than $1 Billion debt, only have $35 million cash
  • Whiting Petroleum, saddled with $3.6 Billion debt
  • Chesapeake Energy, saddled with more than $10 Billion debt
  • Ultra Petroleum, saddled with $2.56 Billion debt with $1.45 Billion in asset, offering to ease $1.5 Billion debt with 97% shares to the bondholder
  • Extraction Oil and Gas, was saddled with $1.5 Billion debt with bondholders
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