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Joele Frank is handling the Chapter XI filing of Oasis Petroleum as the shale oil company reels from the financial pressures from COVID-19 pandemic and the collapse of energy prices.
The Houston-based company reported a 49.6 percent crash in first-half revenues to $554.1. Due to a $4.8B impairment charge, Oasis suffered a $4.4B loss.
The bankruptcy reorganization will reduce Oasis’ total debt by $1.8B.
"Oasis Petroleum is a great company with high-quality assets and employees and a well-earned reputation for excellence in environmental stewardship, safety and governance,” said CEO Tom Nusz in a statement. “However, due to historically low global energy demand and commodity prices, we determined that it is best for Oasis Petroleum to take decisive action to strengthen our liquidity and overcome the headwinds now challenging both our company and industry.
Joele Frank, Wilkinson Brimmer Katcher’s Andrew Siegel and Jed Repko represent Oasis.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
