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Emerald Oil, Inc.

  1. May 06, 2016

    Emerald Oil's DIP Approved Without $110M Rollup

    After more than a week of negotiations, a $20 million interim financing package for bankrupt Emerald Oil was approved Friday in Delaware bankruptcy court without a $110 million rollup to cover prepetition debt held by the interim lenders.

  2. May 04, 2016

    Emerald Oil Judge Wants Changes To $130M DIP Loan

    A Delaware bankruptcy judge said Wednesday he would reject Emerald Oil Inc.'s $130 post-petition financing package unless several changes were made to its terms, but sides squabbling over the loan said they were close to a deal that would alleviate his concerns.

  3. April 27, 2016

    Emerald Oil Gets $130M DIP Deadline Extended By A Week

    Lenders agreed to postpone the deadline for final court approval of a $130 million debtor-in-possession package for bankrupt Emerald Oil Inc. Wednesday, avoiding a default on its prepetition debt that would have derailed the company's Chapter 11 restructuring.

  4. April 26, 2016

    Emerald Oil Defends Roll Up In $130M DIP Package

    Bankrupt oil and gas exploration company Emerald Oil Inc. defended its $130 million debtor-in-possession financing package at a seven-hour hearing Tuesday over the objections of unsecured creditors who opposed $110 million going to prepetition lenders.

  5. April 25, 2016

    Wells Fargo Says $110M DIP Is Emerald Oil's Only Lifeline

    Wells Fargo Bank N.A. on Sunday defended a $110 million bankruptcy financing package for Emerald Oil Inc. that has recently been attacked by the debtor's unsecured creditors, telling a Delaware bankruptcy judge that if the current funding package isn't approved, Emerald faces liquidation.

  6. April 20, 2016

    Creditors Blast Bankrupt Emerald Oil's $130M DIP Plan

    Creditors with unsecured claims on the estate of Emerald Oil Inc. urged a Delaware bankruptcy judge Tuesday to reject or modify a financing plan they said would give the Dakota driller's lenders "complete control" of its Chapter 11 reorganization and harm their interests.

  7. March 25, 2016

    Emerald Oil Gets Interim Nod For Chunk Of $130M DIP Funding

    Oil and gas exploration firm Emerald Oil Co. received interim approval Thursday to tap up to $7.5 million of its $130 million debtor-in-possession financing package to help fund its Chapter 11 restructuring plan, which calls for an auction of its assets.

  8. March 23, 2016

    Emerald Oil Hits Ch. 11 With $350M In Debt, Sale Plans

    Oil and gas exploration company Emerald Oil Inc. and several affiliates on Tuesday became the latest in the hobbled energy sector seeking refuge in bankruptcy, filing for Chapter 11 in Delaware with roughly $350 million in debt and looking to sell its assets at auction.