On Friday, Shares of Peabody Energy Corporation (NYSE:BTU), gained 4.82% to $2.39, after reports suggested the company is seeking to restructure its $6.3 billion debt.
The company has hired Lazard Ltd. (NYSE:LAZ) to assist advise the coal company over the restructuring of its $6.3 billion debt, Bloomberg has stated.
The US based coal producer is struggling with low demand and is looking for ways to de-leverage. One of the ways talked about, revolves around the exchange of obligations for convertible notes or new shares; which would save Peabody from filing for bankruptcy like other miners.
While Peabody has made it clear that it plans to reduce the amount of debt built up, no specific strategies have yet been stated.
Peabody Energy Corporation offers mining of coal. The company operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments.
Oil prices fell Monday, reversing some of the gains made late last week amid concerns the latest rally in the oil and commodities markets would be difficult to sustain, according to Market Watch.
Investors are bracing for another week of volatile trading, with a focus on China in addition to the timing of a U.S. interest-rate improvement. Oversupply concerns also remain persistent as seasonal summer demand for oil fades and oil refineries slow operations. Market Watch Reports
Among oil stocks, Shares of Denbury Resources Inc. (NYSE:DNR), inclined 5.32% to $4.16, during its last trading session.
The Company has revealed insider buying and selling activities to the Securities Exchange, According to the information revealed by the Securities and Exchange Commission in a Form 4 filing, the director of Denbury Resources Inc, Greene Ronald G had sold 45,000 shares worth of $828,900 in a transaction dated June 24, 2014. In this transaction, 45,000 shares were sold at $18.42 per share. Presently the company Insiders own 0.8% of Denbury Resources Inc. Company shares. In the past six months, there is a change of 0% in the total insider ownership. During last 3 month period, -3.52% of total institutional ownership has changed in the company shares.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide.
Finally, Noble Energy, Inc. (NYSE:NBL), ended its last trade with 2.55% gain, and closed at $34.53.
Oil prices are low, but Colorado’s Denver-Julesburg (DJ) Basin ranks among the top energy basins in the nation, according to Bizjournals.com.
So say David Stover, president and CEO of Noble Energy Inc. (NYSE: NBL), one of the biggest energy companies operating in Colorado, and Claire Farley, a member of the energy and infrastructure team for Kohlberg Kravis Roberts & Co. LP (NYSE: KKR), an international private equity firm, specializing in leveraged buyouts, headquartered in New York.
The two spoke during a morning panel at the Rocky Mountain Energy Summit, an energy conference in Denver this week organized by the Colorado Oil & Gas Association, an industry trade group. Bizjournals.com Reports
Noble’s large position in the basin also assists, Stover said. The company has about 600,000 acres of mineral rights in the DJ, operates about 8,400 wells and directly employs about 1,000 people.
Having such a large position allows Noble to consolidate its operations, such as building centralized support facilities, to cut its footprint, Stover said. Bizjournals.com added.
Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, and production of crude oil, natural gas, and natural gas liquids worldwide.
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