Yuma Energy Inc.

Yuma Energy Inc. today announced that the Company has been notified by the New York Stock Exchange that its common stock has been suspended from trading on the NYSE American as it is "no longer suitable for listing" pursuant to Section 1003 of the NYSE American Company Guide. In reaching its delisting determination, the NYSE noted the uncertainty as to the timing and outcome of the Company's bankruptcy process in addition [...]

Interim CEO Anthony C. Schnur Resigns Yuma Energy Inc. , together with its subsidiaries Yuma Exploration and Production Company, Inc., Davis Petroleum Corp., and The Yuma Companies, Inc. , announced today that they have filed voluntary Chapter 11 petitions for relief under the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Texas . During the first quarter of 2020, Yuma's cash [...]

Yuma Energy Inc. announced today that it has been notified by its lender, YE Investment LLC, , an affiliate of Red Mountain Capital LLC., that all outstanding payments under its existing Credit Agreement are currently due and that its Restructuring Agreement with Red Mountain has been terminated. In a press release issued on March 20, 2020, Yuma disclosed that it was not in compliance with the various terms of the [...]

Yuma Energy Inc. today provided an update on the Company's financial status and ability to restructure its liabilities and capital structure. As previously disclosed, in September 2019, YE Investment, LLC, an affiliate of Red Mountain Capital Partners, LLC , purchased all of the Company's outstanding senior secured bank indebtedness and related liabilities under the Company's senior credit facility . The Credit Facility [...]

 Yuma Energy Inc. today announced that the Company and certain of its subsidiaries have entered into an amended and restated Credit Agreement with its lender, YE Investments LLC, an affiliate of Red Mountain Capital Partners, LLC. .  The Credit Agreement provides for an additional three-year senior secured delayed-draw term loan of up to $2.0 million with a maturity date of September 30, 2022 and was entered into in [...]

 Yuma Energy Inc. today announced its financial results for the third quarter ended September 30, 2019.  The 2019 third quarter balance sheet reflects the extinguishment of $34.7 million of senior secured bank debt, which was purchased by an affiliate of Red Mountain Capital Partners, LLC , and other liabilities as part of the restructuring of Yuma's existing senior credit facility.  As previously disclosed and as part of [...]

 Yuma Energy Inc. today announced that it has entered into a Restructuring and Exchange Agreement with Red Mountain Capital Partners LLC and its affiliates . As previously disclosed, YE Investment LLC, an affiliate of Red Mountain , purchased all of the Company's outstanding senior secured bank indebtedness and related liabilities under the Company's credit facility , including the Company's remaining hedge obligations [...]

Yuma Energy Inc. today announced that the Company has executed a settlement agreement with Sam Banks , the former Chief Executive Officer of the Company.  Yuma made no admission of liability under the settlement agreement but agreed to fully settle the matter by way of compromise. The agreement resolves claims that Banks asserted against Yuma in relation to his termination. "This settlement represents another step in our [...]

 Yuma Energy Inc. today announced that the Company has entered into a Forbearance Agreement with YE Investment LLC , an affiliate of Red Mountain Capital Partners LLC and the new lender under the Company's reserve-based Credit Agreement. Under the terms of the Forbearance Agreement, the Lender has agreed to forbear from exercising its rights and remedies under the Credit Agreement as a result of the Company not making [...]

Enters Into Non-Binding Restructuring Letter of Intent  Yuma Energy Inc. today announced that an affiliate of Red Mountain Capital Partners, LLC has purchased all of Yuma's outstanding senior secured bank indebtedness and related liabilities totaling approximately $35 million from the Company's lending group, led by Société Générale. The purchase includes a principal balance of the Company's [...]