Houston midstream startup lands $400M in equity funding, eyes acquisitions
The startup is looking to take advantage of deals in which capital-starved energy companies sell off their midstream assets.
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The startup is looking to take advantage of deals in which capital-starved energy companies sell off their midstream assets.
Read MoreThe exit is structured so that Oxy can exit its stake gradually.
Read MoreBut the company still has a preferred shareholder whose sell-off of Camber interest could continue to push the stock price downward.
Read MoreThe company, which filed for bankruptcy in September, has found a stalking horse bidder for its assets. The deal requires that its midstream subsidiary also file for bankruptcy.
Read MoreThe companies weren’t able to complete the deal by the end of the year and had to abandon the effort due to a tax deadline.
Read MoreThe company has already fired its CFO, and its former CEO resigned after being placed on administrative leave. The SEC also recently announced an investigation into the company’s accounting practices.
Read MoreThe company’s average share price has fallen below $1 over the previous 30 trading days, but neither the trust nor trustee have plans to confront the issue.
Read MoreHouston’s energy sector will likely see more bankruptcies and a continued decline in oil prices.
Read MoreHouston-based Sunnova Energy International Inc. (NYSE: NOVA), formerly called Sunnova Energy Corp., has picked up $150 million in debt funding across two deals.
That total comes from a $95 million revolving facility and a $55 million private placement…
Read MoreThe company is in the midst of negotiating with creditors after it failed to make an interest payment in October.
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