Fieldwood Energy Gets Judge's Final OK For $100M DIP

Law360 (September 14, 2020, 6:24 PM EDT) -- Gulf of Mexico oil and gas exploration company Fieldwood Energy LLC on Monday got the go-ahead to tap into $100 million in debtor-in-possession financing after telling a Texas bankruptcy judge it had resolved objections to the proposal.

At a remote hearing Monday, U.S. Bankruptcy Judge James Isgur gave his final approval for Fieldwood to tap into debtor-in-possession financing administered by Cantor Fitzgerald Securities to fund its case.

Fieldwood filed for bankruptcy last month with $1.8 billion in debt, saying the COVID-19 pandemic had cratered already depressed oil and gas prices.

It said then that it had reached a restructuring agreement with...

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