Fieldwood Energy Files Ch. 11 Cleanup Bond Deal

Law360 (June 23, 2021, 8:41 PM EDT) -- Gulf of Mexico oil and gas driller Fieldwood Energy told a Texas bankruptcy judge Wednesday it has reached a deal to end objections to its Chapter 11 plan by some of its surety bond issuers as the confirmation hearing for the plan headed into its fourth day.

At the virtual hearing, representatives of Fieldwood told U.S. Bankruptcy Judge Marvin Isgur that they had reached a deal with some bond issuers and that by Thursday afternoon they may be able to resolve objections raised by some former owners of its wells as to how the plan will deal with future well shutdown...

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