Samson Resources' CEO to Quit
Samson Resources Corp's chief executive officer plans to resign, a lawyer for the bankrupt oil and gas producer told a judge on Thursday, adding that the company's six-week-old restructuring deal is in peril due to tumbling natural gas prices. CEO Randy Limbacher will continue in his role until December to smooth the transition, said Joshua Sussberg, Samson's lawyer.
Fallen Brazilian Tycoon Batista Faces the Law
A year after the epic collapse of his industrial empire, Brazilian tycoon Eike Batista's financial and legal troubles appear far from over. Once worth more than $30 billion and listed as the world's eighth-richest man by Forbes Magazine, Batista says his debts now exceed his assets by $1 billion and the value of his remaining stakes in the oil, shipbuilding, mining and transportation companies he founded continues to shrink.
Batista Seeks Mubadala Refinancing
The successful restructuring of bankrupt oil producer Óleo e Gás Participações SA will allow Brazilian tycoon Eike Batista to move forward with plans to cut his own debt, three sources with direct knowledge of the situation said. Batista and his EBX holding company have been in talks to renegotiate about $2 billion owed to Abu Dhabi sovereign wealth fund Mubadala Development Co PJSC, the sources said.
Brazil Opens Bank Records Of Fallen Tycoon Batista
A federal court in Brazil gave police access to the bank records of former billionaire Eike Batista as part of an investigation into alleged financial fraud, a judicial source said on Friday. The latest setback for Batista, who is accused of giving misleading information about the offshore wells of his bankrupt oil company, accompanied a court order this week that froze up to 122 million reais ($55 million) of his assets.
Bankrupt Brazil Firm to Start Offshore Production
Oleo e Gas Participações SA, the bankrupt oil company controlled by Brazilian tycoon Eike Batista, said on Monday that it expects to start production at two additional wells in the Tubarão Martelo offshore field within 90 days. The wells would join two others in production, bringing the company's total output to 16,000 barrels per day on average, Oleo e Gas said in a securities filing.
Oleo e Gas to Add Production at Two Wells
Oleo e Gas Participações SA, the bankrupt oil company controlled by Brazilian tycoon Eike Batista, said on Monday that it expects to start production at two additional wells in the Tubarão Martelo offshore field within 90 days. The wells would join two others in production, bringing the company's total output to 16,000 barrels per day on average, Oleo e Gas said in a securities filing.
Brazil's Oleo E Gas Gets $44 Mln Offer For Colombian Oil Rights
Oleo e Gas Participacoes SA, the bankrupt oil company controlled by Brazilian tycoon Eike Batista, received a $44 million offer for five oil exploration and production blocks in Colombia, the company said on Friday. The offer involves $30 million in cash and the assumption of $14 million in future exploration obligations in Colombia, Oleo e Gas said in a statement. It did not give the name of the investor or company making the offer.
Reports: Brazilian Tycoon Batista Investigated For Financial Crimes
Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering, Brazilian media reported on Friday. If the police probe leads to criminal charges against Batista, it would be yet another major blow for a businessman once hailed as Brazil's model entrepreneur and symbol of its economic success.
Brazil's Batista Target of Insider Trading Probes
Eike Batista, who was Brazil's richest man for most of the past decade, is under investigation for allegedly engaging in insider trading while he chaired his now-bankrupt oil-producing and shipbuilding firms, securities industry watchdog CVM said on Friday. In a statement sent to Reuters, Rio de Janeiro-based CVM confirmed that Batista is a respondent…
