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Case Study
Exploration & Production Partnership
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The Fire
- Failed E&P partnership filed Chapter 11 in Northern District of Texas.
- Liquidating plan was confirmed.
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The Rescue
- Named Liquidating Agent pursuant to confirmed Plan of Reorganization.
- Investigated and pursued deficiency claims against European general partners.
- Developed and implemented a specialized marketing plan to stimulate purchase interest of mineral royalty interests located in 260 producing oil and gas wells located in Texas, Oklahoma, Montana and North Dakota.
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The Result
- Conducted, before twenty-two purchasers from the United States and Canada, a successful open auction where the mineral interests were sold to the highest bidder for cash that represented approximately 80% of the interest’s face value.