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Assets of Oil & Gas Company

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Listing Information

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Assets of Oil & Gas Company



Price: Not Specified

Other Item Info
Item #: debke_176879
Created: 05/26/2020
Category: Business Property > All Assets or Going Concerns > Oil & Gas Producers
Sale Location: Fort Worth, Texas
Sale Date: Mon. Jun 22, 2020
Seller Info
Joseph Barsalona II
Debtor's Attorney
1201 North Market Street Suite 1600
Wilmington, DE 19801
302-351-9118
Bankruptcy Info
Case #: 1:19-bk-11164
Case Title: PWR Invest, LP
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket

See More Documents

Description

Sale of substantially all of assets of PWR Invest, LP and its seller affiliates (collectively, the “Sellers”). The seller's primary assets consist of producing and non-producing oil, natural gas, and NGL reserves owned by Merge and surface rights owned by River Basin (collectively, the “O&G Reserves”). The O&G Reserves provide rights to drill, produce, and maintain wells in specific geographic regions. The sellers own no operating assets or entities; the O&G Reserves are simply a revenue stream from wells in which Merge or River Basin have an interest in and which are operated by Gogo and other third-party non-seller entities.

You can contact the Seller (above) or click on the case # in the bankruptcy case information section to find additional documents and descriptions regarding these assets for sale.


Sale Location

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201 Main Street, Suite 2500
Fort Worth, TX, 76102

Additional Details

  1. Auction Time: 10:00 a.m.
  2. Sale Hearing Held on June 24, 2020 at 2:00 p.m.
  3. Purchase Price: The Purchase Agreement contemplates as consideration for the transfer of the Purchased Assets and other transactions contemplated thereby (a) the assumption of the Assumed Obligations (as defined therein) and (b) a credit bid pursuant to section 363(k) of the Bankruptcy Code in an amount equal to $30 million of the principal amount of loans under the Credit Agreement.
  4. Bid Deposit: 10% of the aggregate cash and non-cash purchase price of the bid
  5. Bid Deadline: June 19, 2020
  6. Last date to respond: June 17, 2020


Other Information

Terms and Conditions:

See Attached.


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