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Erin Energy Corp.

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2017 10-K, filed Mar 16, 2018. Its latest SEC filing is a 8-K from Jul 13, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Sells crude oil to buyers in Nigeria and explores for oil and gas in Nigeria, Ghana and The Gambia with national oil companies and local partners.

How Did They Make Money?

Sells crude oil in Nigeria under spot contracts; revenue comes when the oil is delivered to a buyer.

FY2011 revenue

Who Were Their Customers?

Crude oil buyers purchase under spot sales contracts, and the company delivers the oil from its offshore production vessel.

How Were They Changing?

Since the FY2017 annual report
  • Jul 13, 2018 Chief executive resigned The company also accepted his resignation from its board.
  • May 11, 2018 NYSE moved to delist Erin Energy's shares Trading was suspended, and the shares began trading over the counter.
  • Apr 26, 2018 Erin Energy filed for Chapter 11 bankruptcy The company said it would keep operating while seeking financing and a reorganization plan.

Grew. Revenue grew 580.7x in 2 years, from $67K in FY2009 to $38.9M in FY2011, about 2310% a year.

Kenya exploration The older report described exploration across onshore and offshore Kenya; the latest report says the company will not renew or extend those leases.

Gambia operatorship The older report described Erin as operator of its Gambia blocks; the latest report says FAR acquired an interest and operatorship while Erin retained a working interest.

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