Realtor Steve Manley Helping Homeowners Safeguard Their Property

Realtor Steve Manley Helping Homeowners Safeguard Their Property

Massachusetts Realtor Steve Manley, of Exit Realty All Stars, helping people avoid foreclosure and stay in their homes.

PR Newswire

BOSTON, Feb. 16, 2018 /PRNewswire-PRWeb/ – Steve Manley, a Realtor at Exit Realty All Stars, is now serving the Boston and Massachusetts areas with SafeGuard Credit Counseling Services. SafeGuard is dedicated to assisting consumers in meeting and satisfying their fiscal responsibilities and reaching their financial goals through financial literacy education, credit, bankruptcy and housing counseling programs.

“Often, by the time the lender or note holder starts the foreclosure process a person’s financial situation is improved, yet by that point they are too far behind on the payments, penalties and late fees to be able to catch backup,” said Manley. “With SafeGuard, we can help people avoid foreclosure and help them stay in their house.”

SafeGuard, a non-profit dedicated to helping people find solutions, works under the general guidelines of Neighborhood Stabilization Program, which was established to stabilize communities that have suffered from foreclosures and abandonment. The primary goal is to keep people in their home.

“The non-profit will buy the home in a short-sale process and then sell it back through various options to the homeowner, if they qualify, or they will sell through the traditional short-sell process and be allowed to stay in their home longer and avoid foreclosure judgement, often receiving money to help with moving expenses,” concluded Manley.

About Steve Manley, Exit Realty All Stars
Steve Manley is the Team Leader of the Team at Exit Realty. He works with buyers and sellers. For more information, please call (615) 538-7490, or visit

About the NALA™
The NALA offers small and medium-sized businesses effective ways to reach customers through new media. As a single-agency source, the NALA helps businesses flourish in their local community. The NALA’s mission is to promote a business’ relevant and newsworthy events and achievements, both online and through traditional media. The information and content in this article are not in conjunction with the views of the NALA. For media inquiries, please call 805.650.6121, ext. 361.


SOURCE Exit Realty All Stars

Fieldwood Energy Files Prepackaged Chapter 11 Cases and Announces Gulf of Mexico Acquisition

Fieldwood Energy Files Prepackaged Chapter 11 Cases and Announces Gulf of Mexico Acquisition

PR Newswire

HOUSTON, Feb. 15, 2018 /PRNewswire/ – Fieldwood Energy LLC (together with its subsidiaries and certain affiliates, the “Company” or “Fieldwood”) announced today that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas as part of a “prepackaged” chapter 11 case.  In connection with the filing, the Company entered into a Restructuring Support Agreement (“RSA”) with support from stakeholders representing, in principal amount, approximately 75% of its first lien term loans, 72% of its first lien last-out term loan, 77% of its second lien term loan, and Riverstone, as the holder of 100% of the Company’s sponsor second lien term loan as well as the Company’s private equity sponsor. 

The Chapter 11 plan of reorganization (the “Plan”) filed on the “first day” of the case encompasses a comprehensive restructuring of the Company’s balance sheet and an acquisition of significant revenue-producing assets.  Specifically, the proposed restructuring contemplates (a) reducing current debt by approximately $1.6 billion, (b) raising capital of approximately $525 million through an equity rights offering (the “Rights Offering”), and (c) acquiring all deepwater oil and gas assets of Noble Energy, Inc. located in the Gulf of Mexico. The assets complement and enhance the Company’s asset base and operations.  The Company will use the proceeds of the Rights Offering to fund the acquisition, fund the costs and expenses of the Chapter 11 cases, and for general working capital after emergence from Chapter 11.  The Plan also provides that holders of undisputed general unsecured claims will be paid cash in full.

Fieldwood’s Chief Executive Officer, Matt McCarroll, commented, “These developments are the result of extensive negotiations with our lenders and Riverstone as well as Noble Energy, Inc.  We appreciate the incredible efforts by all parties involved in structuring this unique plan of reorganization, which we expect to allow the Company to emerge from chapter 11 within the next 60 days with a much stronger balance sheet and greater financial flexibility to grow.  Our goal going into this process was to fix our leverage and liquidity issues while continuing to honor our commitments to all of our business partners, vendors, and employees as well as all of the government agencies that touch our business.  I believe that we have accomplished that goal with this plan.”

Additionally, in connection with this process, the Company has obtained a $60 million debtor-in-possession financing facility which is available, if necessary, to ensure that the Company has adequate funds to operate the business during the restructuring process.  Fieldwood also filed First Day Motions seeking approval to continue paying in full, all operating expenses, joint interest billings, royalties, insurance and surety bond costs, employee related expenses, and taxes, among other things.

Mr. McCarroll continued, “We fully expect that our operations will continue in the normal course and that we will continue to be able to meet all of our business obligations to third parties as well as the government throughout this process.”

Fieldwood’s Chapter 11 case is being heard in the United States Bankruptcy Court for the Southern District of Texas. Additional information, including the Plan and related Disclosure Statement, is available at Questions also may be directed to the Company’s dedicated hotline at 855-631-5346.

Kevin Bruce
Director, Government & Industry Affairs
Fieldwood Energy LLC
2000 W. Sam Houston Pkwy S., Suite 1200
Houston, TX 77042
(713) 969-1044

The Company has engaged Weil, Gotshal & Manges LLP as its legal counsel, Evercore Group LLC as its financial advisor, and Opportune LLP as its restructuring advisor.

The First Lien Group has engaged O’Melveny & Myers LLP as its legal counsel and Houlihan Lokey Capital, Inc. as its financial advisor.

The RBL Lenders have engaged Willkie Farr & Gallagher LLP as its legal counsel and RPA Advisors, LLC as its financial advisor.

The Cross-Holder Group has engaged Davis Polk & Wardwell LLP as its legal counsel and PJT Partners LP as its financial advisor.

Riverstone has engaged Vinson & Elkins LLP as its legal counsel and Perella Weinberg Partners as its financial advisor.

Nothing in this press release shall constitute a solicitation of the holders of any of Fieldwood’s indebtedness or securities with respect to the matters contemplated by the RSA and Backstop Agreement or an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities of Fieldwood.  Any such securities that may be offered under the Plan have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.

Certain statements in this press release constitute forward looking statements.
All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements.  Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain or be identified by the words “believe,” “expect,” “expected to be,” “anticipate,” “contemplates”, “plan,” “intend,” “foresee,” “forecast,” “continue,” “can,” “will,” “will continue,” “may,” “should,” “would,” “could” or other similar expressions that are intended to identify forward-looking statements and include statements about our ability to successfully complete the asset acquisition described above, implement a pre-packaged Chapter 11 plan and emerge from bankruptcy. R
eaders are cautioned that any forward-looking statements herein, are subject to a number of assumptions, risks, and uncertainties, many of which are beyond our control.  Important assumptions and other important factors that could cause actual results to differ materially and include, but are not limited to, those factors, risks and uncertainties described in more detail in the Disclosure Statement for the plan, as well as the volatility in commodity prices for crude oil and natural gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks, exploration and development risks, competition, government regulation or other actions, the ability of management to execute its plans to meet its goals and other risks inherent in our businesses.  Readers are cautioned that the forward-looking statements speak as of the date hereof, are based on our current beliefs, intentions and expectations, and are not guarantees of future performance.  Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and Fieldwood undertakes no obligation to update any such statements.

Cision View original content:

SOURCE Fieldwood Energy

Ascent Resources Marcellus Holdings And Its Wholly Owned Subsidiaries Commence Voluntary Chapter 11 Filings To Effectuate Financial Restructuring

Ascent Resources Marcellus Holdings And Its Wholly Owned Subsidiaries Commence Voluntary Chapter 11 Filings To Effectuate Financial Restructuring


PR Newswire

OKLAHOMA CITY, Feb. 6, 2018 /PRNewswire/ – Ascent Resources Marcellus Holdings, LLC and its wholly owned subsidiaries, Ascent Resources – Marcellus, LLC (“ARM”) and Ascent Resources Marcellus Minerals, LLC (collectively, the “ARM Entities”) commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) to implement a consensual financial restructuring (the “ARM Restructuring”) approved by certain holders of ARM’s first and second lien term loans. The ARM Restructuring is a negotiated balance sheet restructuring being undertaken to reduce the long-term debt of, and improve the liquidity of, the ARM Entities. The ARM Restructuring is not an operational restructuring and is not intended to restructure or compromise any vendor, service provider, contractor, lessor, working interest owner or royalty owner obligations. 

On February 2, 2018, the ARM Entities began the solicitation of votes to accept the negotiated chapter 11 plan of reorganization (the “Plan”) from ARM’s secured creditors. Only holders of ARM’s first and second lien term loans are entitled to vote to accept or reject the Plan.  Vendors and service providers will not be impaired by the Restructuring and will be paid in the ordinary course of business.  As of the chapter 11 filing, the ARM Entities have the creditor votes necessary for the Plan to receive approval from the Bankruptcy Court, with holders of 78% of the first lien term loans and 79% of the second lien term loans having voted to accept the Plan. 

We anticipate that the ARM Entities will be in chapter 11 for approximately 45 to 60 days and that the ARM Entities will continue to operate in the ordinary course of business during this period.  Upon emergence from bankruptcy, a new board of directors will be appointed for the ARM Entities, including one director appointed by the current equity owners, and the ARM Entities will enter into a new management services agreement with Ascent Resources Management Services, LLC, whereby the existing management team will continue to manage the day-to-day operations of the ARM Entities.

Ascent Resources, LLC, Ascent Resources Utica Holdings, LLC, Ascent Resources – Utica, LLC and Ascent Resources Management Services, LLC (together, the “Ascent Entities”) are not included in the ARM Restructuring and their operations remain unaffected by the ARM Restructuring. The Ascent Entities are separate and distinct entities that have their own capital structures, financing and operations. The Ascent Entities do not guarantee any of the ARM Entities debt.  

About the ARM Entities: The ARM Entities were formed to acquire, explore for, develop, produce and operate natural gas and oil properties in the Marcellus Shale. The ARM Entities currently own or have the right to develop approximately 43,000 net acres in northern West Virginia.

More about the ARM Restructuring: More information about the ARM Restructuring and these chapter 11 cases can be found in the ARM Entities’ Disclosure Statement available on the ARM Entities’ restructuring website at:

Jack Lascar
Dennard – Lascar Investor Relations


Cision View original content:

SOURCE Ascent Resources Marcellus Holdings, LLC