McDermott kicks off major financial restructuring
Oil and gas contractor McDermott has started a restructuring package amid concerns over its financial health.
restructuring
Hurricane Energy says ‘no further action necessary’ over failed restructuring
Hurricane Energy (LON: HUR) has said "no further action is necessary" having completed a review into its failed restructuring plan earlier this year.
Updated: End of the line in sight for Hurricane Energy
Bosses at Hurricane Energy have conceded that the troubled UK oil firm is likely to be wound down within the next few years.
Interview: NHV CEO hopes oil price bump can get helicopter market to ‘more sustainable situation’
The CEO of NHV hopes the restoration of oil prices can help the beleaguered helicopter market “to a more sustainable situation”.
Keppel O&M to wrap up rig building operations as part of wider restructuring
Keppel Offshore & Marine (O&M) is to stop building rigs as it looks to make a move into the renewables market.
Ørsted announces new corporate structure and mass shakeup at the top table
Ørsted has announced plans to alter its organisational structure as part of efforts to strengthen its ability to tap into new markets and better serve customers.
Restructuring options for oil companies in 2021 – Mayer Brown
Whether dealing with failure of a major project, reacting to crises at counterparties or weighed down by oil price weakness, many companies in the oil sector will have to undertake financial restructuring in 2021.
DeepOcean to wind down UK cable laying and trenching business, 90 jobs at risk
Subsea service group DeepOcean said today it intends to wind down its UK cable laying and trenching (CL&T) business.
Shell CEO says ‘we will resize as appropriate’ as firm eyes job cuts
Shell CEO Ben van Beurden has said the energy giant will “resize as appropriate” as it moves to become a “simpler and leaner” organisation.
Restructuring set to be major feature in future
A wave of restructuring will wash through the North Sea oil industry as firms battle to make themselves “fit” for the new reality, a top accountant has said.
GMS battles forward
Gulf Marine Services (GMS) has made progress in shoring up its future but much rests on its negotiations with lenders.
Seadrill can’t rule out Chapter 11
Offshore drilling contractor Seadrill said yesterday that it could file for chapter 11 bankruptcy proceedings if it cannot reach an agreement on its restructuring.
Premier Oil gets initial green light for restructuring, boasts record production
Premier Oil today confirmed all of its restructuring's substantial commercial terms have been agreed.
Trinity’s Trinidad creditors approve restructuring bid
Trinity Exploration today confirmed its Trinidad creditors gave the green light for its restructuring plans.
Elk Petroleum draws closer to restructuring deal
Elk Petroleum said the closing of the Grieve CO2 enhanced oil recovery project joint venture restructure as well as a $58million loan facility will occur in the next few weeks.
TAQA makes senior appointment
TAQA today announced the man in charge of the company's restructuring project, Saeed Hamad Al Dhaheri, is to become acting chief operating officer.