Months after selling nearly 200 producing wells in northern Oklahoma, Austin, Texas-based Remora Petroleum LP has filed for bankruptcy protection.
Remora is a private E&P company focusing on the acquisition and development of mature, long-lived producing properties. It owns operated and nonoperated working interests across the Anadarko, Gulf Coast, Permian, Denver-Julesburg and Los Angeles basins, according to the company’s website.
The Austin, Texas-based company filed its petition for Chapter 11 protection on Aug. 12 in the Southern District of Texas, Houston Division. It lists approximately $85 million in debt.
Remora also filed a plan of reorganization that has the support of the company’s first and second lien lenders. The hearing on confirmation of the plan of reorganization is set on Oct. 21.
It was December 2019 when Remora put up 197 wells plus minerals and leasehold in Alfalfa, Garfield, Grant, Kay, Noble and Woods counties in Oklahoma.
Source: Hart Energy