Opportune Acts as Restructuring Advisor for Fieldwood Energy
Houston-based Fieldwood Energy LLC on February 15, 2018 announced that it 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.
Opportune LLP acted as Fieldwood's restructuring advisor in the case.
The Chapter 11 plan of reorganization encompasses reducing current debt by about $1.6 billion, raising capital of around $525 million through an equity rights offering and acquiring all deepwater oil and gas assets of Noble Energy Inc. located in the Gulf of Mexico.
The Wall Street Journal: "Fieldwood Energy Files for Chapter 11 Bankruptcy Protection"
Houston Business Journal: "Houston co. files Ch. 11, will buy Noble Energy's Gulf of Mexico assets"