After bondholders, OSX, Schlumberger, Ensco top OGX creditor list

By Sabrina Lorenzi and Jeb Blount

RIO DE JANEIRO, Nov 4 (Reuters) - Bondholders, followed by

oilfield-service companies, are the biggest creditors of

Brazilian tycoon Eike Batista's oil company OGX, which made

Latin America's biggest-ever bankruptcy filing last week,

according to a list obtained by Reuters.

The No. 2 creditor after bondholders is OSX Brasil SA

, the Batista-controlled shipyard and ship-leasing

company that built three offshore oil production platforms for

OGX. OSX is owed at least 2.45 billion reais ($1.1 billion) or

about 21 percent of the oil company's obligations.

The next largest creditor is Schlumberger NV, the

world's largest oilfield service company, which is owed at least

214.7 million reais or 1.9 percent of obligations, according to

Reuters analysis of the list.

The 8.17 billion reais ($3.6 billion) owed to holders of

OGX's bonds, which expire in 2018 and 2022, accounts for about

72 percent of the company's consolidated obligations.

The creditor list was part of the bankruptcy petition filed

on Oct. 30 in a Rio de Janeiro court by OGX Petróleo e Gas SA

, as the company is formally known.

OGX's bankruptcy filing, the latest major development in

one of the biggest corporate meltdowns in recent history,

stemmed from the company's inability to meet ambitious

production targets set by Batista, who hailed OGX as the

flagship of his once high-flying energy, commodities and

logistics empire.

With little revenue and a share price that plunged more than

98 percent in the last 16 months, OGX ran out of cash to pay

debt, suppliers and other companies in his EBX group. Some EBX

companies, including a port operator and a shipbuilder, depended

on each other for revenue and the value of their shares also

plummeted during the selloff.

Batista, who was once worth about $30 billion and was the

world's seventh-richest man, in the process saw his fortune dry

up, leaving him without the assets or credit necessary to keep

financing his companies. He was unable, for instance, to

fulfill a promise to bolster OGX by buying as much as $1 billion

worth of new stock.

Now, OGX hopes the bankruptcy can help it restructure.

The top-five creditors after the bondholders is rounded out

by Houston-based drill-rig operator Diamond Offshore Inc,

owed 91.4 million reais; London-based drill-rig operator Ensco

Plc, owed 63.9 million reais; and Fairfield,

Connecticut-based General Electric Co, owed 54.1 million

reais.

Together, Schlumberger, Diamond, Ensco and GE hold about 4

percent of OGX's obligations.

The list contains nearly 250 specific creditors, including

major companies such as Brazilian state-run oil company Petroleo

Brasileiro SA, also known as Petrobras, which is owed

40.9 million reais.

Thomson Reuters Corp, the parent company of Reuters

News, is owed 26,189 reais.

Smaller creditors include a downtown Rio de Janeiro deli,

several taxi cooperatives and FedEx Corp. each being

owed several hundred or several thousand reais. OGX's smallest

creditor, Rosario Placas e Carimbos, a sign and rubber-stamp

company, is owed 0.50 reais, or about 22 U.S cents.

Below is a list of OGX's largest creditors, according to its

bankruptcy petition.

Company/Creditor Debt Blns % of OGX

of R$ Total

1. Bondholders R$ 8.166 71.7%

2. OSX Brasil R$ 2.445 21.1%

3. Schlumberger R$ 0.214 1.9%

4. Diamond Offshore R$ 0.091 0.8%

5. Ensco R$ 0.064 0.6%

6. GE R$ 0.054 0.5%

7. Petrobras R$ 0.041 0.4%

8. Baker Hughes R$ 0.036 0.3%

TOTAL (ALL OGX R$11.389 100%

CREDITORS)

The bankruptcy petition is part of case No.

0377620-56.2013.8.19.0001, in the Justice Tribunal of Rio de

Janeiro State.

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