I just received a legal notice re: EP Energy Chapter 11- specifically about the procedures and assumptions of executory contracts and unexpired leases.
I have two producing wells in one section and am wondering about these scenarios:
- Does EP have the right to withhold payments while restructuring?
- Does EP have the right to cancel the unexpired lease?
- If so, are my minerals on the open market?
- If another lessee picks them up- are the terms of the current lease in effect?
Thanks in advance for any help, John