October 20, 2017 9:50 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Sabine Oil & Gas Corporation

Company Overview

Sabine Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, and development of oil and natural gas properties onshore in the United States. As of December 31, 2015, the company had interests in approximately 217,000 net acres in East Texas, targeting the Cotton Valley Sand and Haynesville Shale formations; 53,400 net acres in South Texas targeting the Eagle Ford Shale formation; and 25,300 net acres in North Texas, targeting the Granite Wash formation. It had proved undeveloped reserves totaled approximately 1.5 million barrels (MMBbls) of oil; 5.8 MMBbls of natural gas liquids; and 118.0 billion cubic feet of natural gas, ...

1415 Louisiana Street

Suite 1600

Houston, TX 77002

United States

Founded in 2006

146 Employees





Key Executives for Sabine Oil & Gas Corporation

Chief Financial Officer and Senior Vice President
Age: 40
Chief Operating Officer and Senior Vice President
Age: 44
Chief Technical Officer and Senior Vice President
Age: 47
Chief Accounting Officer, Vice President and Controller
Age: 39
Vice President of Human Resources and Administration
Compensation as of Fiscal Year 2017.

Sabine Oil & Gas Corporation Key Developments

Sabine Oil & Gas To Be Deleted From Other OTC

Sabine Oil & Gas Corporation’s common stock was deleted from Other OTC, effective August 12, 2016. The deletion was due to bankruptcy plan effective/shares cancelled.

Sabine Oil & Gas Corporation Files Form 15

Sabine Oil & Gas Corporation has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock, $0.10 par value under the Securities Exchange Act of 1934, as amended.

Second Amended Reorganization Plan Approved for Sabine Oil & Gas Corporation

The US Bankruptcy Court approved the second amended plan of reorganization of Sabine Oil & Gas Corporation on July 27, 2016. As per the approved plan, administrative claims of $14 million, statutory fees, professional fees and priority tax claims of $6 million shall be paid in full. Other priority claim of $0.16 million shall receive payment in full in cash of its unpaid portion. Second Lien Adequate Protection Claims of $50 million will be paid full through equity ownership of 5%. RBL secured claim of $926.78 million will have a recovery of 69.1% amounting to $640.4 million. This class will receive cash, $350 million of debt and 93% of new common stock. Senior Notes Claims 2017 of $364.12 million, Senior Notes Claims 2019 of $602.19 million, Senior Notes Claims 2020 of $227.59 million and Each of these claims will have a recovery of $6.19 million, $6.02 million and $2.28 million respectively. Second Lien Deficiency Claims of $668.19 million will have a recovery of 1.7% amounting to $11.36 million in the form of equity. General Unsecured Claims of $241.18 million will have a recovery of 1.7% amounting to $4.1 million in the form of equity. Convenience Claims of $6.74 million will have a recovery of 3% amounting to $0.19 million. Section 510(b) claims shall be cancelled without any recovery. Intercompany claims of $2.38 billion and Intercompany Interests may be reinstated. On the effective date, equity interests in Sabine shall be deemed canceled and extinguished, and no distribution shall be made to them. The plan shall be funded with new common stock and warrants, Exit Revolver Credit Facility in the amount of $200 million, New Second Lien Credit Facility in the amount of $100 million and cash on hand.

Similar Private Companies By Industry

Company Name Region
102 Oil Wells in East Texas Field United States
11 Good Energy, Inc. United States
1280 Horizons, LLC United States
1347 Energy Holdings LLC United States
15 Fields in Williston Basin United States

Recent Private Companies Transactions

July 3, 2017
Sabine Oil & Gas Corporation, 7,886 net acres in Red River Parish, La.

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Tax Management Inc United States
Bertelsmann AG Europe

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Sabine Oil & Gas Corporation, please visit www.sabineoil.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.