October 22, 2016 2:26 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Maxus Energy Corporation

Company Overview

Maxus Energy Corporation explores and produces oil and natural gas in the mid-continent region of the United States; and Indonesia and Ecuador. The company was formerly known as Diamond Shamrock Corporation and changed its name to Maxus Energy Corporation in May, 1987. The company is based in Houston, Texas. Maxus Energy Corporation operates as a subsidiary of YPF Holdings Inc. On June 17, 2016, Maxus Energy Corporation, along with affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.

10333 Richmond Avenue

Suite 1050

Houston, TX 77042

United States

2,027 Employees





Key Executives for Maxus Energy Corporation

Maxus Energy Corporation does not have any Key Executives recorded.

Maxus Energy Corporation Key Developments

Final DIP Financing Approved for Maxus Energy Corporation

The US Bankruptcy Court gave an order to Maxus Energy Corporation to obtain DIP financing on final basis on August 19, 2016. As per the order, the debtor has been authorized to obtain a revolving credit facility in the amount of $63.10 million from YPF Holdings, Inc. The DIP facility is bifurcated into two tranches, Tranche A, consisting of a senior secured $31.90 million and Tranche B, consisting of a subordinated unsecured $31.20 million. The DIP loan would carry an interest rate of 7% p.a., along with an additional 2% p.a. interest in the event of default. As per the terms of the DIP agreement, the loan carries a commitment fee of 2% p.a. The DIP facility would mature on June 30, 2017. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of all fees required to be paid to the clerk of bankruptcy and up to $0.05 million towards fees and expenses incurred by trustee and up to $1.80 million unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral.

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Recent Private Companies Transactions

June 17, 2016

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