Akin Gump Advises Noteholders of EV Energy Partners as Company Completes Restructuring
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(New York) – EV Energy Partners, L.P. today announced that it has successfully completed its financial restructuring and has emerged from chapter 11 as a new corporation under the name Harvest Oil & Gas Corp. Akin Gump served as legal counsel to certain noteholders of the company.
Through the restructuring, Harvest has eliminated approximately $355 million of debt and accrued interest from its balance sheet and significantly enhanced its financial flexibility. At its emergence, the company entered into an amended and restated credit facility providing for a new reserve-based revolving loan. The initial borrowing base under the credit facility is $325 million, with the first scheduled redetermination of the borrowing base in April 2019.
The Akin Gump team advising the noteholders was led by financial restructuring partners Ira Dizengoff, Philip Dublin and Jason Rubin and corporate partner Dan Fisher.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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