.The Texas Energy Report

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.The Texas Energy Report

Chesapeake Energy Filed for Bankruptcy Restructuring Protection Sunday

June 28, 2020

The shale drilling pioneer Chesapeake Energy lost $8.3 billion in 1Q and reported only $82 million in cash at the end of March. In a debtor agreement, Chesapeake has acquired $925 million in a revolving credit debtor-in-possession agreement to keep it going during the bankruptcy process, eliminating about $7 billion of debt along with a $600 million commitment for new equity when it emerges from the court process.

However, with about 73% of unsecured bondholders refusing to go along with the deal, a fight over recoveries is expected and could get contentious as hedge funds that accumulated positions in the bonds fight with the secured debtors
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A&M Researchers Develop Recovery Estimator For New Wells

“Shale operators need to cut costs tremendously because of low global prices of crude oil,” and a new spreadsheet analysis procedure can do that.

 

June 23, 2020

Rather than using complicated reservoir simulations, researchers at Texas A&M University say they’ve come up with a much simpler method to predict the amount of oil and gas that can be recovered from newly-drilled wells, saving time, hassle and money….