With the current wave of bankruptcies, with more sure to follow, I thought we should start a consolidated thread with news about what is going on in these cases. We will attempt to post links and news of new filings here, but please feel free to add any info you find. I will first start with links on threads that already exist on this site.
I have no insight about the Legacy Reserves bankruptcy, but I can say that we received a check from Legacy Reserves just last month. We wondered if this means that they’ve re-grouped and are operating again?
Whiting Petroleum announced Chapter 11 filing in the last two days. Suggest you add them to your list so we can follow it. They have NOT paid the March royalties as of April 2nd - don’t know what that means.
Here is more info on Whiting bankruptcy. They state they intend to continue to pay royalty owners, but each person has to review their own situation as to whether they may need to file a Proof of Claim.
Just got the paperwork from FDL Operating LLC who took over from Sheridan. I found it interesting that they only intend to pay 60 days after the month of oil and gas production. Gas is usually that way, but now I need to go check my leases to see if the 60 days for oil payment is in contradiction to the lease terms. My wells are very old, so the money is small, but folks with more royalties might want to pay attention to that detail.
Joy: yes, you can use the federal court website called PACER. You will need to register to be able to search. There is no charge to register or to search but they charge 10 cents per page to download pleadings.