Friday, April 15, 2016

Energy XXI Pursues Deleveraged Balance Sheet via Chapter 11

Originally published by » Blog.

Yesterday, Energy XXI Ltd. became the latest domestic oil and gas company to pursue a more deleveraged balance sheet via Chapter 11 restructuring. This does not come as a surprise to those following the company – for much of the last three months Energy XXI’s stock has been trading at less than $1.00 per share. According to the press release issued by the company, the filing comes after the company reached agreement with more than 63% of second lien note holders on the material terms of the restructuring.

Financial Restructuring, Energy
Stephen Boone

Curated by Texas Bar Today. Follow us on Twitter @texasbartoday.

from Texas Bar Today
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