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  • American City Business Journals3 months ago

    Houston energy co. emerges from bankruptcy

    Swift Energy Co. (NYSE: SFY) announced April 25 that it has emerged from bankruptcy. At the time, the company reported that the petition was expected to help the company restructure, amend or refinance its $330 million secured revolving credit facility. Swift completed its financial restructuring plan, which was confirmed by the U.S. Bankruptcy Court for the District of Delaware on March 31, 2016.

  • Reuters7 months ago

    Swift Energy gets loan approval from U.S. bankruptcy court

    Swift Energy Co received U.S. bankruptcy court approval on Tuesday to borrow up to $15 million, giving the oil-and-gas exploration company time to negotiate a refinancing deal that is key to its turnaround. Swift filed for Chapter 11 on Dec. 31, joining about 40 other energy companies that entered bankruptcy in 2015 as oil prices plunged to less than $37 a barrel from more than $100 a barrel in June 2014. At Swift's first court hearing in Wilmington, Delaware on Tuesday, lawyers stressed the importance of moving the Houston-based company's reorganization quickly.