April 2, 2018 / 11:55 AM / 4 months ago

Fieldwood Energy says creditors fully behind reorganization plan

Energy producer Fieldwood Energy LLC said its creditors unanimously support its unusual plan to exit bankruptcy, which cut $1.6 billion of its debt but also raised funds to acquire deepwater assets in the Gulf of Mexico from Noble Energy Inc.

Fieldwood in court papers arguing for approval of the plan said on Wednesday it garnered unanimous support from creditors who voted on the proposal, which has a confirmation hearing on Monday in U.S. Bankruptcy Court in Houston, Texas.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2uGBfBt

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