• Reuters10 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.

  • Bloomberg10 months ago

    Swift Energy Bankruptcy Deal May Hinge on Fast Loan Approval

    Swift Energy Co., the last major U.S. oil and gas driller to file for bankruptcy in 2015, is seeking quick approval for financing so it can keep operating while it completes a debt-for-equity swap.

  • Moody's11 months ago

    Swift Energy Company -- Moody's downgrades Swift Energy's unsecured notes to Ca, CFR to Caa3

    $875 million of rated debt affected. New York, December 04, 2015-- Moody's Investors Service downgraded Swift Energy Company's Corporate Family Rating to Caa3 from Caa1, Probability of Default Rating to ...