{"id":14720,"date":"2020-08-01T07:01:46","date_gmt":"2020-08-01T04:01:46","guid":{"rendered":"https:\/\/www.al-sindbad.net\/offshore-driller-noble-corp-files-for-bankruptcy\/14720\/"},"modified":"2020-08-01T07:01:46","modified_gmt":"2020-08-01T04:01:46","slug":"offshore-driller-noble-corp-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/offshore-driller-noble-corp-files-for-bankruptcy\/14720\/","title":{"rendered":"Offshore Driller Noble Corp. Files for Bankruptcy"},"content":{"rendered":"<p><\/p>\n<p>The Chapter 11 filing in Texas envisions eliminating all of the company\u2019s borrowings \u2014 more than $3.4 billion \u2014 by swapping debt for equity, the company said in a statement. Bondholders have agreed to invest $200 million of new capital through second lien notes, and Noble has lined up a $675 million secured revolving credit facility.<\/p>\n<p><\/p>\n<p>Noble is one of the biggest owners of offshore rigs, and it failed to cope with a glut of floating drilling capacity that was a decade in the making, as exploration companies shifted focus to cheaper inland shale. The plunge in crude prices made any near-term recovery in offshore drilling even less probable.<\/p>\n<p><\/p>\n<p>Noble adds to the more than <a href=\"https:\/\/www.haynesboone.com\/-\/media\/Files\/Energy_Bankruptcy_Reports\/Oil_Patch_Bankruptcy_Monitor\" target=\"_blank\" rel=\"noopener noreferrer\">200 oilpatch bankruptcies<\/a> dating from 2015.<\/p>\n<p><\/p>\n<p><em>\u00a9 2020 Bloomberg L.P<\/em><\/p>\n<p>gCaptain<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chapter 11 filing in Texas envisions eliminating all of the company\u2019s borrowings \u2014 more than $3.4 billion \u2014 by swapping debt for equity, the company said in a statement. Bondholders have agreed to invest $200 million of new capital through second lien notes, and Noble has lined up a $675 million secured revolving credit &hellip;<\/p>\n","protected":false},"author":1,"featured_media":14721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[2623,7863,5163,2622,8758,1131],"class_list":["post-14720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marine-world","tag-bankruptcy","tag-corp","tag-driller","tag-files","tag-noble","tag-offshore"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/14720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=14720"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/14720\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/14721"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=14720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=14720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=14720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}