TABLE-Debt deadlines on the horizon for Chaparral Energy, Ultra Petroleum
By Jessica DiNapoli NEW YORK, March 31 (Reuters) - At least eight oil and gas exploration and production companies, reeling from the commodities rout, face interest payments on debt April 1, according to Thomson Reuters data.
Chaparral Energy Inc will not make its interest payment tied to a $300 million bond, according to people familiar with the matter. The company, which cited a bankruptcy risk in its annual report, missed a separate $16.5 million payment March 1, kicking off a 30-day grace period.
Ultra Petroleum Corp has an interest payment of $26 million due April 1, according to its annual report. A subsidiary of the company received a waiver extending to April 30 for missed debt payments.
About 40 energy companies filed for bankruptcy last year as the price of oil plunged, including Swift Energy Co, which missed an interest payment, and, after a grace period ended, filed for bankruptcy.
Company Total debt 2015 Industry Nearest 2nd nearest outstanding Debt-Cash/E Median coupon payment (m) at BITDA payment 12/31 Bill 7.01 2.95 4/1/2016 4/15/2016 Barrett Corp $803 Chaparral 3.48 (2014) - 4/1/2016 5/15/2016 Energy Inc[CHARN.U L] $1,607 Clayton 8.51 2.95 4/1/2016 - Williams Energy Inc $933* Comstock 15.73 2.95 4/1/2016 6/15/2016 Resources Inc $1,249 Midstates 7.83 2.95 4/1/2016 6/1/2016 Petroleum Co $1,796 Ultra 7.35 2.95 4/1/2016 4/12/2016 Petroleum Corp $3,760** Vanguard 6.29 2.95 4/1/2016 8/15/2016 Natural Resources LLC $2,292 Whiting 5.16 2.95 4/1/2016 9/15/2016 Petroleum Corp $5,198 *Pro forma at Dec. 31 **At Feb. 29 (Reporting by Jessica DiNapoli, Michael Gambale of Thomson Reuters IFR; Editing by Leslie Adler)
