fieldwood in A Sentence
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He called the process a“recapitalization” that allowed Fieldwood to reorganize its balance sheet.
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McCarroll said there were no layoffs in the bankruptcy, no unsecured claims left behind, and that Fieldwood had adequate liquidity.
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McCarroll said Fieldwood will start a drilling program on the newly-acquired assets that are not currently producing within six to twelve months, and will evaluate its existing acreage before making another acquisition.
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The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico.
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Fieldwood has already accumulated more than 2 million acres of mainly shallow-water leases in the Gulf of Mexico, including a new block which it leased in last month's federal oil auction, making it the No. 1 operator on the shelf.
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