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