TORONTO, March 24, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today announced that the terms of previously announced forbearance arrangements entered into with certain of its creditors have been extended to April 29, 2016, subject to certain terms and conditions. As previously announced, the Company has entered into an agreement with certain holders (the "2019 Noteholders") of its 5.375 [...]
TORONTO, March 21, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) announced today that it has elected to not make the interest payment due on March 28, 2016 in connection with its 5.125% notes due 2023 (the "2023 Notes"). The failure to make such interest payment (of U.S.$25.6 million in the aggregate) on the scheduled date does not constitute an Event of Default under the indenture governing [...]
TORONTO, March 18, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) announced today the release of its audited consolidated financial statements for the year and quarter ended December 31, 2015, together with its management discussion and analysis ("MD&A"), Annual Information Form ("AIF") and Form 51-101 F1 - Statement of Reserves Data and Other Oil and Gas Information for the Company (the "F1 [...]
TORONTO, March 17, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) announced today that the Company is aware of media reports regarding its ongoing debt restructuring process. While the Company does not comment on market rumours, it confirms, as previously disclosed, that it continues to be in the midst of discussions with all stakeholders to strengthen the Company's capital structure and make [...]
TORONTO, Feb. 23, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today responded to certain information that is circulating in different media channels regarding the Colombian Constitutional Court rendering a decision regarding the indigenous community consultation process in respect of a portion of the Quifa Field Operations, located in the Puerto Gaitán Municipality, Meta Department in [...]
TORONTO, Feb. 19, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today announced that the requisite number of its bank lenders have approved the entering into of the previously announced forbearance agreements with the Company and have entered into such agreements. As announced earlier today, the Company has entered into an agreement (the "Noteholder Extension Agreement") with certain holders [...]
TORONTO, Feb. 19, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today announced that the Company has reached an agreement (the "Noteholder Extension Agreement") with certain holders (the "2019 Noteholders") of its 5.375% senior notes due 2019 (the "2019 Notes") and certain holders (the "2025 Noteholders", and together with the 2019 Noteholders, the "Noteholders") of its 5.625% senior notes due [...]
TORONTO, Feb. 11, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today announced that the Company, together with its legal and financial advisors and through the Independent Committee of the Board of Directors, is actively working with its creditors pursuant to its revolving credit facilities and note indentures to formulate a comprehensive plan to address the current oil price environment and [...]
EIG Pacific Holdings Ltd. (the “Offeror”), a Cayman Islands limited company and subsidiary of Harbour Energy Ltd. (“Harbour Energy”), announced today that it has amended the terms of its pending tender offers (the “Tender Offers”) for the outstanding (i) 5.375% Senior Notes due 2019 (the “2019 Notes”), (ii) 7.250% Senior Notes due 2021 (the “2021 Notes”), (iii [...]
TORONTO, Feb. 4, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) announced on December 28, 2015 that it obtained certain waivers (the "Waivers") in respect of the: (i) U.S.$1 billion revolving credit and guaranty agreement with a syndicate of lenders and Bank of America, N.A, as administrative agent; (ii) U.S.$250 million credit and guaranty agreement with HSBC Bank USA, N.A., as agent; (iii [...]
TORONTO, Jan. 21, 2016 /CNW/ - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) announced on December 28, 2015, that it obtained certain waivers (the "Waivers") in respect of the: (i) U.S.$1 billion revolving credit and guaranty agreement with a syndicate of lenders and Bank of America, N.A, as administrative agent; (ii) U.S.$250 million credit and guaranty agreement with HSBC Bank USA, N.A., as agent; (iii [...]
Pacific Exploration & Production announced today that it has elected to utilize the 30 day grace period pursuant to the indentures governing its 5.625% notes due January 19, 2025 and its 5.375% notes due January 26, 2019 rather than make the interest payments due on January 19, 2016 and January 26, 2016, respectively, in connection with these Notes. Specifically, the following interest payments will not be paid on the [...]