gulf

Fieldwood Energy Files Prepackaged Chapter 11 Cases and Announces Gulf of Mexico Acquisition

Fieldwood Energy LLC (together with its subsidiaries and certain affiliates, the “Company” or “Fieldwood”) announced today that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas as part of a “prepackaged” chapter 11 case. In connection with the filing, the Company entered into a Restructuring Support Agreement (“RSA”) with support from stakeholders

PetroQuest Energy Announces Sale of Gulf of Mexico Assets

PetroQuest Energy, Inc. (NYSE:PQ) today announced the sale of its Gulf of Mexico properties (the “Sold Assets”) on January 31, 2018, but effective as of December 1, 2017. As a result of the sale, the Company has eliminated an approximate $35.4 million undiscounted abandonment liability from its long-term obligations.  The Company received no proceeds from the sale of these properties and is required to contribute $3.75 million towards future abandonment