As I understand the present situation Cypress is in Bankrupcy and has put their leases every where up for a bulk sale. Does anyone have any current (May) information about this matter. Does anyone know how to track the court actions of the Trustee in Bankrupcy. I have a Cypress lease which is approaching the date for the exercise of the two year option. All of the rights surrounding my property are owned by Cypress however such rights are not dated the same as mine. I assume that any buyer of the Cypress leases may offer to buy only certain leases which will be based on current activity and seismic data. My area may be excluded from potential purchasers so it would seem best for our area to form a group and seek out potential leasors. Would appreciate any info on these matters and other similar situations.
Cypress is not in bankruptcy, but they are running a process to sell their leases in Lavaca.