The financial landscape of the oil and gas industry is rapidly changing. Have you adapted your strategy? It's time to break away from the distractions of the office and spend two days analyzing your 2015 financial strategy with the best minds in the industry. The 8th annual Energy Capital Conference, presented by Oil and Gas Investor, offers a unique opportunity to hear from veteran oil and gas leaders who know what it takes succeed in any business environment.
Plan now to join over 350 executives from private and public E&P companies, financial institutions and private equity firms this April in Austin, TX.
Hear directly from more than a dozen c-suite executives and industry experts who have led and advised companies through multiple business cycles
Explore profitable business strategies designed for success in today’s market
Find out how to strategically access and deploy capital from the right sources for your business
Walk away with a game plan that will position your company for growth in 2015 and beyond
Enjoy small group discussions on the golf course, at the Industry Excellence Awards Dinner and during the cigar, cognac and dessert reception the day before the conference
Forest Oil Bondholders Seek $584 Million In Sabine Deal Suit Forest Oil Corp. bondholders claim they were deprived of $584 million when First Reserve Corp. structured a merger to avoid redeeming their debt, Bloomberg reported Feb. 27.
First Reserve acquired Forest, placing it under the management of one of its units, Sabine Oil & Gas Corp. (OTC: SOGC), while structuring the agreement to avoid triggering a provision that would have required the bond to be redeemed, the debt holders claimed in a lawsuit Feb. 27 in New York state court. The parties to the merger “conspired to conceal the purported work-around” to the change of control, according to bondholder trustee Wilmington Savings Fund Society FSB.
The indenture of the natural gas and oil producer’s $577.9 million of 7.25% senior bonds includes terms that the bonds will be repaid when the ownership of the company shifts from one party to another, which typically takes place in a merger.
US Oil Rigs Get Hammered For 12th Straight Week U.S. oil explorers idled rigs for the 12th straight week, extending the steepest dropoff in drilling on record as crude prices headed for a second week of losses, Bloomberg reported Feb. 27.
Rigs targeting oil in the U.S. fell by 33 to 986, dropping below 1,000 for the first time since June 2011, Baker Hughes Inc. (NYSE: BHI) said on its website Feb. 27. Those seeking gas dropped by nine to 280, the Houston-based field services company said. The total U.S. count declined by 43 to 1,267, including a miscellaneous rig.
The U.S. has lost more than a third of its oil rigs over four months in an unprecedented retrenchment in drilling that threatens to bring the nation’s shale boom to a halt as early as this year. Collapsing oil prices have already wiped out thousands of U.S. jobs and dried up more than $86 billion in capital spending as domestic producers face stiff competition from suppliers abroad.