BRIEF-Pacific Exploration announces restructuring update

Thu Apr 14, 2016 6:22am EDT
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April 14 (Reuters) - Pacific Exploration And Production Corporation

* Board has resolved to negotiate a consensual restructuring transaction involving Catalyst Capital Group Inc

* Company's operations continue as normal and without disruption

* Engaged in extensive bid solicitation with participation of ad hoc committee of noteholders

* Co, ad hoc committee, bank lenders, catalyst continue to be engaged in negotiations to finalize restructuring terms

* Bid solicitation also included company's lenders under its credit facilities Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)