Assets of Oil & Gas Company
Listing Information
Assets of Oil & Gas Company
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
Debtor's Attorney
1201 North Market Street Suite 1600
Wilmington, DE 19801
302-351-9118
Case Title: PWR Invest, LP
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket
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.
Financial Overview
Sale Location
Fort Worth, TX, 76102
Additional Details
- Auction Time: 10:00 a.m.
- Sale Hearing Held on June 24, 2020 at 2:00 p.m.
- 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.
- Bid Deposit: 10% of the aggregate cash and non-cash purchase price of the bid
- Bid Deadline: June 19, 2020
- Last date to respond: June 17, 2020