Investors

Press Releases

  • 6/7/16 10:49 am CDT
    • Solicitation Process Yields Approval of Plan from All Classes Entitled To Vote
    • $1.1 Billion of Existing Debt to Be Converted into New Common Equity
    • Trade Creditors, Suppliers and Contractors to Be Paid in Full in the Ordinary Course
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (the “Company”) today announced that it has filed a pre-packaged plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. As previously announced, the Company’s pre-packaged plan provides for a substantial deleveraging transaction pursuant to which approximately $1.1 billion of the Company’s outstanding debt will be converted to equity. Themore...
  • 5/13/16 5:50 am CDT
    • Consenting 2022 Noteholders Join Amended Agreement, Majority of Noteholders Support Deal
    • $1.1 Billion of Existing Debt to Be Converted into New Common Equity
    • Trade Creditors, Suppliers and Contractors to Be Paid in Full in the Ordinary Course
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (the “Company”), today announced that it has entered into a Second Amended and Restated Restructuring Support Agreement (the “Second Amended and Restated Restructuring Support Agreement”) with (i) certain lenders representing 100% of the outstanding principal amount under the Company’s Incremental Term Supplement (Tranche A) loan, (ii) certain lenders representing approximately 86% of the outstanding principal amount ofmore...
  • 4/25/16 5:50 am CDT
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (NYSE: SSE) today reported financial and operational results for the first quarter of 2016. SSE reported total revenues of $155.4 million for the first quarter of 2016, a 19% decrease compared to revenues of $192.8 million for the fourth quarter of 2015, and a 64% decrease compared to revenues of $429.8 million for the first quarter of 2015. SSE’s adjusted EBITDA was $37.9 million for the first quarter of 2016more...
  • 4/19/16 7:30 am CDT
    • $1.1 Billion of Existing Debt to be Converted into New Common Equity
    • Trade Creditors, Suppliers and Contractors to be Paid in Full in the Ordinary Course
    • Customer Contracts to Continue Uninterrupted
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (the “Company”), today announced that it has entered into a Restructuring Support Agreement (the “Agreement”) with certain lenders (the “Incremental Term Loan Lenders”) representing 92.0% of the outstanding principal amount under the Company’s Incremental Term Supplement (Tranche A) loan and certain noteholders (the “Consenting 2019 Noteholders”) collectively owning or controlling in excess of 57.7% of the aggregatemore...
  • 2/17/16 5:30 am CST
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (NYSE: SSE) today reported financial and operational results for the 2015 full year and fourth quarter. Key information related to the 2015 full year is as follows: Adjusted Revenues of $1.089 billion on Total Revenues of $1.131 billion Adjusted EBITDA was $235.0 million Net loss per fully diluted share was $4.42 SSE reported total revenues of $192more...
  • 2/12/16 5:30 am CST
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (NYSE:SSE) has scheduled to release its 2015 full year and fourth quarter operational and financial results before market open on Wednesday, February 17, 2016. A conference call to discuss the results has been scheduled for the same day at 3:00 p.m. CST. The telephone number to access the conference call is U.S. toll-free 844-867-9749 and international 901-300-3300. The conference ID for the call is 21395970. Wemore...
  • 2/9/16 3:51 pm CST
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (NYSE: SSE) today reported preliminary estimated and unaudited financial and operational results for the 2015 full year and fourth quarter. Key information related to the 2015 full year and fourth quarter results is as follows: Full-year Total Revenues of $1.131 billion Full-year Adjusted EBITDA between $235.0 - $233.0 million Fourth quarter Total Revenues of $192.8more...
  • 1/21/16 3:30 pm CST
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (NYSE: SSE) announced today that it has received notice from the New York Stock Exchange (“NYSE”) of non-compliance with the NYSE continued listing standard that requires the average closing price of the Company’s common stock to be not less than $1.00 per share over a period of 30 consecutive trading days. The Company has notified the NYSE of its intent to cure the deficiency and return to compliance with themore...
  • 1/12/16 5:30 am CST
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (NYSE: SSE) announced today that it has retained the services of Lazard Freres & Co. LLC to advise the Company’s management and board of directors on identifying opportunities in its capital structure to improve value and enhance strategic growth opportunities. Chief Executive Officer Jerry Winchester said, “Our operations continue to perform at a high level delivering much needed efficiency for ourmore...
  • 10/28/15 5:30 am CDT
    OKLAHOMA CITY--(BUSINESS WIRE)--Seventy Seven Energy Inc. (NYSE: SSE) today reported financial and operational results for the third quarter of 2015. Key information related to SSE for the third quarter is as follows: Consolidated Adjusted EBITDA of $41.1 million Positive free cash flow of $42.9 million Repurchased and cancelled $10.0 million of its 6.5% Senior Notes due 2022 Surpassed an SSE milestone ofmore...