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Reading about Arena Energy's Bankruptcy filing
Posted on 8/24/20 at 12:43 pm
Posted on 8/24/20 at 12:43 pm
They filed bankruptcy to restructure $1 Billion in debt.
They listed $64 million in assets.
That's kind of crazy.
They listed $64 million in assets.
That's kind of crazy.
5
Posted on 8/24/20 at 1:19 pm to anc
Welcome to the world of PUDs
Posted on 8/24/20 at 2:48 pm to anc
No worries, the executives will all give themselves million dollar bonuses.
Posted on 8/24/20 at 3:34 pm to anc
Damn, I always thought Arena was one of the few well run money making companies on the shelf.
Thier lifting cost must be high as hell.
Thier lifting cost must be high as hell.
Posted on 8/24/20 at 4:26 pm to anc
Don't confuse Arena Energy with Arena Offshore.. One is exploration the other production..
Posted on 8/24/20 at 4:32 pm to JDPndahizzy
quote:
Arena Offshore develops and operates the drilling and production of projects identified by our affiliate company Arena Energy.
LINK
I mean...one is the operator the other is the E&P/Holdco.
Posted on 8/25/20 at 6:15 pm to cwill
So this just leaves Cox and Cantium left to fold to complete every company of any size on the shelf.
Posted on 8/25/20 at 7:13 pm to anc
quote:
They listed $64 million in assets.
And they are probably using $55 WTI to evaluate those assets.
Posted on 8/25/20 at 7:56 pm to barry
quote:
Welcome to the world of PUDs
whats a PUD?
Posted on 8/25/20 at 8:58 pm to Triple Bogey
Proved undeveloped reserves
“Proved reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for recompletion”
“Proved reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for recompletion”
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