- American City Business Journals•6 months ago
Management-level execs leave their posts for all kinds of reasons — a board enacts an ousting, the firm's going in another direction, it's time to retire — but in the case of beleaguered Houston-based ZaZa Energy Corp., the reasoning is straight forward. The company ran out of money and couldn't make payroll, said Scott Gaille, ZaZa's former general counsel. Gaille stopped getting paid in June, but stayed on for a time after the money stopped in order to try and work out a solution with ZaZa's creditors that would get it back into a position of being able to make payroll.
- American City Business Journals•9 months ago
As smaller upstream oil and gas companies do their best to implement their utmost down-market survival strategies, the distress of some is becoming more evident. On a list of 27 "distressed" companies put out by Mergers & Acquisitions News, five are Houston-based and all five are energy companies. Here's the list: Daybreak Oil & Gas Inc. Far East Energy Corp. Harvest Natural Resources Inc. Lucas Energy Inc. (LEI) ZaZa Energy Corp. (ZAZA) Merger & Acquisitions News constructs its list based on filings through the U.S. Securities and Exchange Commission.
|52wk Range||0.04 - 0.08|
|Day's Range||0.06 - 0.06|
|Avg Vol (3m)||23,727|
As of 3:14 PM EDT. Market closed.