Haynes and Boone Represents Administrative Agent for Secured Lenders in Arena Energy Restructuring

10/14/2020

A Haynes and Boone, LLP team represented the administrative agent for the senior secured lenders in the Chapter 11 cases of Arena Energy, LP, et al.

Through the Chapter 11 process, Arena completed its financial restructuring and emerged from bankruptcy under the ownership of San Juan Offshore LLC. The restructuring was achieved through a prepackaged plan of reorganization, which was supported by 100% of the senior secured lenders.

Arena, one of the most active drillers on the Gulf of Mexico shelf, announced the successful completion of its restructuring on Oct. 1, 2020.

The Haynes and Boone team included Partners Austin Elam, Frasher Murphy, Eli Columbus, Matt Ferris and Rich Kanowitz. They were assisted by Associates Ellen Conley, Reem Abdelrazik, Martha Wyrick, David Trausch, Alex Kirincic and Tom Zavala.

The Haynes and Boone Restructuring Practice Group handles issues in large and complex out-of-court financial restructurings and Chapter 11 reorganization cases. Chambers USA, Chambers and Partners, 2020 ranks the practice as a market leader, and clients describe our lawyers as “business-oriented attorneys.” The Restructuring Practice Group was shortlisted for the 2015 Chambers USA Award of Excellence as Bankruptcy Team of the Year for the entire nation.

Haynes and Boone is an international corporate law firm with offices in Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City and Shanghai, providing a full spectrum of legal services in energy, technology, financial services and private equity. With more than 575 lawyers, Haynes and Boone is ranked among the largest U.S.-based firms by The National Law Journal, The American Lawyer and The Lawyer. It also was recognized across the board for excellence in the BTI Consulting Group’s 2020 “A-Team” report, which identifies the law firms that in-house counsel commend as providing superior client service.