Oil Company Bankruptcies and Info

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.

Legacy Reserves - Ch 11Legacy Reserves files for bankruptcy Legacy Reserves Chapter 11 Bankruptcy Permian News of General Interest

MDC Permian - MDC Reeves Bankruptcy

Petro Quest - PetroQuest Bankruptcy

Sheridan - Sheridan bankruptcy

Tapstone - Tapstone Bankruptcy

Vanguard - Vanguard bankruptcy

I am not posting ones 2+ years old, as they are usually resolved by now.


Sanchez Energy - Fayette and Lavaca County TX Oil Activity

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?

My understanding is it was a Chapter 11 where the royalty owners continued to get paid.


Whiting Petroleum filed for Chapter 11 today.

Legacy is paying royalties. We receive a quarterly check from them. I think your payment has to reach a $100.00 threshold for a check to be sent.

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.

Link to Company website explaining bankruptcy: http://whiting.com/restructuring-information/

They filed in the Southern District of Texas – Houston Division. Consolidated Case No. is 20-32021, Judge David R. Jones presiding.

Link to Third Party Information provider: https://cases.stretto.com/whitingpetroleum

There are some articles on bankruptcies on the Blogs section of this site, including this one -



1 Like

Just got a notice of payment from Whiting. Got a form letter about the Ch 11 yesterday or day before. Got the payment into the bank today. Lucky for me, a very small part of my total picture.

Yuma Energy has filed a liquidating Chapter 11 in Texas. Will post schedules and details once located.

Sanchez Energy submitted a $2.4 billion debt to equity swap plan to its creditors in its Chapter 11 bankruptcy.

Sheridan filed Chapter 11 in March, and got a plan fast tracked and approved by March 30.

Sheridan details

Here is the Whiting Master Service List. They also got an order entered allowing use of cash collateral, which is kept to continuing to pay royalty Owners.


FYI: The Bankruptcy Court confirmed Legacy Reserves Plan of Reorganization. You can read the full details at the PACER website for federal court cases.

Company press release and link to filings on the Yuma bankruptcy.



Is there no central place to research new bankruptcies? I assume operators don’t have an obligation to notify mineral owners.

1 Like

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.