February 15, 2018 / 5:53 PM / 4 months ago

BRIEF-Fieldwood Energy Files Prepackaged Chapter 11 Cases And Announces Gulf Of Mexico Acquisition

* FIELDWOOD ENERGY FILES PREPACKAGED CHAPTER 11 CASES AND ANNOUNCES GULF OF MEXICO ACQUISITION

* FIELDWOOD ENERGY LLC - PROPOSED RESTRUCTURING CONTEMPLATES REDUCING CURRENT DEBT BY ABOUT $1.6 BILLION​

* FIELDWOOD ENERGY LLC - CHAPTER 11 PLAN OF REORGANIZATION ALSO PROVIDES THAT HOLDERS OF UNDISPUTED GENERAL UNSECURED CLAIMS WILL BE PAID CASH IN FULL

* FIELDWOOD ENERGY - ‍ RESTRUCTURING CONTEMPLATES RAISING CAPITAL OF ABOUT $525 MILLION THROUGH AN EQUITY RIGHTS OFFERING ​

* FIELDWOOD ENERGY SAYS TO USE PROCEEDS OF RIGHTS OFFERING TO FUND ACQUISITION IN GULF OF MEXICO , FUND COSTS AND EXPENSES OF CHAPTER 11 CASES

* ‍FIELDWOOD ENERGY- RESTRUCTURING CONTEMPLATES ACQUIRING ALL DEEPWATER OIL AND GAS ASSETS OF NOBLE ENERGY LOCATED IN GULF OF MEXICO​

* FIELDWOOD ENERGY SAYS OBTAINED $60 MILLION DEBTOR-IN-POSSESSION FINANCING FACILITY TO ENSURE CO HAS FUNDS TO OPERATE BUSINESS DURING RESTRUCTURING PROCESS

* FIELDWOOD ENERGY - EXPECT TO EMERGE FROM CHAPTER 11 WITHIN NEXT 60 DAYS​ Source text for Eikon: Further company coverage:

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