Twin Butte Energy reviews alternatives, may pursue debt restructuring

By Angela McDaniels

Tacoma, Wash., Dec. 9 – Twin Butte Energy Ltd. is considering strategic alternatives that may include a debt restructuring, according to a company news release.

The company’s capital structure includes 6.25% convertible debentures due Dec. 31, 2018.

In addition to a possible debt restructuring, the strategic alternatives may include, but are not limited to, a sale of all or a material portion of the assets of Twin Butte, the outright sale of the company, a merger or other transaction with a third party and/or alternative financing initiatives.

Peters & Co. Ltd. and National Bank Financial Inc. are acting as financial advisers to the company.

Twin Butte is an oil and gas company based in Calgary, Alta.

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