Breitburn bankruptcy

Texas Mineral Rights
1

Ok, I posted on one of the groups in Texas, not the statewide group, reposting here. I've received 2 notices regarding Breitburn's bankruptcy proceedings. This is in federal bankruptcy court (in Southern New York district), I live in ND, and my mineral rights are in Martin and Howard Counties. Not large, earn about $1500/year in royalties currently. Any advice I should know about? One notice said information about claims would be mailed sometime in the future, most recent notice is for a motion for an extension for time "to assume or reject unexpired leases of nonresidential real property". Previous notice said information about filing claims would be mailed in the future, meanwhile I continue to receive royalties. Not terribly worried but OTOH interesting in hearing from anyone who has more familiarity than I with the process.

Sheri

2

I wish I could help you, but I had one well listed in the notification that Breitburn said it was bringing with it out of the bankruptcy estate, and that well was plugged and abandoned a year ago. So I don't know what they are claiming as an asset there. If you had specific items involved, i believe you would have gotten some similar correspondence. there were about 80 bankruptcies in the past few years with the lower oil prices, and most have come out and we lost no royalty payments (that i am aware of).