Might find this article useful as it covers some of what we are discussing (with 2nd lien loan becoming the "term loan" component after redetermination).
Also the very last paragraph references ASX listed Lonestar Resources
"Some companies are finding a way out. Fort Worth oil and gas explorer Lonestar Resources Ltd. (LNREF) said July 28 it inked a $100 million joint development agreement in the Eagle Ford with IOG Capital LP, which is led by former Chesapeake Energy Corp. CFO Marc Rowland and backed by Fortress Investment Group and Metalmark Capital. Global Hunter analyst Andrew Smith wrote in a note that the agreement allows Lonestar to continue to expand its acreage position at trough-level valuations and that the increased borrowing base and additional liquidity are positive in the current commodity price environment amid worries about lower borrowing bases across the industry during the fall redetermination season. Lonestar may be one of the lucky ones, as other companies struggle to find tricks that will coax treats from their banks."
Hasn't helped their SP though (disclosure: I hold LNR plus a couple of the dogs mentioned in the article)
SSN Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
