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Oil & Gas and Related Properties for Sale
Listing Information
Attachments
Oil & Gas and Related Properties for Sale
Price: $91,500,000.00
Other Item Info
Item #: debke_173230
Created: 05/19/2018
Category: Business Property > All Assets or Going Concerns > Oil & Gas Producers
Sale Location: Houston, Texas
Sale Date: Mon. Jul 16, 2018
Created: 05/19/2018
Category: Business Property > All Assets or Going Concerns > Oil & Gas Producers
Sale Location: Houston, Texas
Sale Date: Mon. Jul 16, 2018
Seller Info
Kara Coyle
Debtor's Attorney
1000 North King Street
Wilmington, DE 19801
302-571-6600
Debtor's Attorney
1000 North King Street
Wilmington, DE 19801
302-571-6600
Bankruptcy Info
Case #: 1:18-bk-11174
Case Title: Enduro Resource Partners LLC
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Enduro Resource Partners LLC
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all of assets of the Enduro Resource Partners LLC, et al. The company assets are comprised primarily of the company oil and gas properties, principally located in North Dakota, Wyoming, Louisiana, Texas, and New Mexico. The Assets were divided into four asset packages, including:
- Package 1A: The North Dakota Package: The first asset package, referred to as “Package 1A” or the “North Dakota Package,” is comprise of long-lived conventional waterflood oil properties located in the Willison and Big Horn Basins in North Dakota, and more described in "Exhibit B-1" on the attached PDF.
- Package 1B: The Wyoming Package: The second asset package, referred to as “Package 1B” or the “Wyoming Package,” is comprised of long-lived conventional waterflood oil properties located in the Willison and Big Horn Basins in Wyoming. The Wyoming Package also contains a sour gas plant and oil pipeline, and more described in "Exhibit B-2" on the attached PDF.
- Package 2: The North Louisiana Package: The third asset package, referred to as “Package 2” or the “North Louisiana Package,” is comprised of oil and natural gas properties in the Cotton Valley Play and the Haynesville Play in Caddo and DeSoto Parishes, Louisiana.
- Package 3: The Trust Related Assets Package: The fourth asset package, referred to as “Package 3” or the “Trust Related Assets Package,” is comprised of the company working interests in oil and gas properties in Texas, Louisiana, and New Mexico that are burdened by the “net profits interest” in favor of Enduro Royalty Trust, plus the publicly traded units in Enduro Royalty Trust owned by Enduro Resource Partners LLC, and more described in "Exhibit B-3" on the attached PDF.
Assets for sale is more described in Exhibit A , Exhibit A-1 and Exhibit A-2 on the attached PDF.
Financial Overview
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Sale Location
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Houston, TX, 77002
Additional Details
- Auction Time: 10:00 a.m.
- Sale Hearing held on July 19, 2018 at 10:00 a.m.
- Purchase Price: (a) for the North Dakota Package, $45,000,000; (b) for the Wyoming Package, $5,000,000; (c) for the North Louisiana Package, a cash reserve price of $14,000,000; and (d) for the Trust Related Assets Package, $27,500,000.
- Minimum Bid Amount: The aggregate consideration proposed by each Bid must equal or exceed the sum of: (a) $47,800,000 in cash for the North Dakota Package; (b) $5,675,000 in cash for the Wyoming Package; (c) For the North Louisiana Package, a cash reserve price of $14,000,000; and (d) $29,100,000 in cash for the Trust Related Assets Package.
- Bid Deposit: 10% of the aggregate cash and non-cash purchase price of the bid.
- Bid Increment: (a) $100,000 for the North Dakota Package; (b) $500,000 for the Wyoming Package; (c) $500,000 for the North Louisiana Package; and (d) $500,000 for the Trust Related Assets Package.
- Bid Deadline: July 11, 2018
- Last date to respond: June 29, 2018