# Oil Company Bankruptcies and Info
**URL:** https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868
**Category:** NARO
**Created:** [March 31, 2020, 8:02pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868 "2020-03-31T20:02:17Z")
**Posts on this page:** 20
**Page:** 5
### Author:  [@M\_Barnes](https://www.mineralrightsforum.com/u/M_Barnes)
#### Post date: [August 19, 2020, 3:00am UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/85 "2020-08-19T03:00:04Z")
Let’s hope the Chesapeake royalty owners decision remains that way!
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### Author:  [@John\_B\_Collier\_V](https://www.mineralrightsforum.com/u/John_B_Collier_V)
#### Post date: [August 19, 2020, 5:08pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/86 "2020-08-19T17:08:05Z")
Thank you Wade for keeping us informed.
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### Author:  [@Yankeegardener](https://www.mineralrightsforum.com/u/Yankeegardener)
#### Post date: [August 20, 2020, 2:23pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/87 "2020-08-20T14:23:48Z")
Update: I heard back from Axis (one of the group under the heading Extraction Oil & Gas); they will continue to pay royalties during the restructuring process, in case this answer helps anyone else.
Thank you for this great forum!
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### Author:  [@oilwell13](https://www.mineralrightsforum.com/u/oilwell13)
#### Post date: [August 24, 2020, 5:59pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/88 "2020-08-24T17:59:50Z")
I deal with Chaparral and I thought I received notice that someone had bought them out but have to go to my files. Anybody else get that memo and does that mean what they didn’t get rid of they are filing bankruptcy on? What about working interest? I have a working interest and overriding interests but have not received the bankruptcy notice. Was this recent? I’m thinking this might not be an asset anymore but a liability?
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [August 27, 2020, 3:41pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/89 "2020-08-27T15:41:04Z")
Oilwell- If you have a working interest with them you should receive a notice. A fairly recent bankruptcy.
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [August 27, 2020, 3:44pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/90 "2020-08-27T15:44:09Z")
Multiple updates-
Chaparral - Disclosure statement set for approval on October 1 and the court approved an order they may continue to pay royalty owners.
Sable’s auction of its assets is Oct. 10.
Ultra’s plan of reorganization was approved over objections.
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### Author:  [@oilwell13](https://www.mineralrightsforum.com/u/oilwell13)
#### Post date: [September 4, 2020, 3:22pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/91 "2020-09-04T15:22:06Z")
Thanks. I did receive the bankruptcy notice but still don’t know how it affects me as a WI and royalty owner. Thinking some of it may be ORI whether that’s a working interest I do not know. I inherited quite a bit from my grandfather who lived in Ardmore, Oklahoma, and most was done by him as far as I know. I haven’t filed anything to be an interest owner, just leasing. But I do have a lot of paperwork, original, that I can go through that was there when I took over 20 years ago that I can look through. I pay JOI to Chaparral currently on Baker 1-27 which is minimal, $1-2 a month. So is this going to be a liability for me to be a WI during a bankruptcy?
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 1, 2020, 8:13pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/92 "2020-10-01T20:13:30Z")
Chesapeake - A hearing on the Disclosure Statement is October 22. See below.
[2020-09-11 Disclosure Statement.pdf](https://www.mineralrightsforum.com/uploads/short-url/aUF2iS9i7CiIebKc8fFU1AwKaeg.pdf) (1.2 MB)
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 1, 2020, 8:14pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/93 "2020-10-01T20:14:28Z")
Denbury - The Disclosure Statement and proposed plan were approved September 2.
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 1, 2020, 8:15pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/94 "2020-10-01T20:15:16Z")
MTE Holdings (MDC) - Filed a 4th motion for extension of time to file their proposed plan. Not a good sign.
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 1, 2020, 8:16pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/95 "2020-10-01T20:16:14Z")
Sable - The auction to sell the assets is October 10. Several objections have been filed to the sale.
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 1, 2020, 8:16pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/96 "2020-10-01T20:16:57Z")
Ultra and Unit - Both have had plans approved, so I will not provide further updates on them.
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 1, 2020, 8:18pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/97 "2020-10-01T20:18:02Z")
Chaparral Energy - The proposed plan has drawn several objections and been supplemented several times to try to meet some of the objections.
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 2, 2020, 7:04pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/98 "2020-10-02T19:04:23Z")
Lonestar Resources, primarily an Eagle Ford operator, filed a pre-packaged Chapter 11 in Houston. Below is a Press Release, and Order Authorizing Payment of Royalties (note these orders only allow the debtor to pay, they do not order the debtor to pay - you need to continue to monitor payments with any bankrupt company).
[Lonestar Press Release.pdf](https://www.mineralrightsforum.com/uploads/short-url/90czxxmmxLVLxOKVnJnGMUryjzC.pdf) (33.7 KB)
[Order Authorizing Payment of Royalties.pdf](https://www.mineralrightsforum.com/uploads/short-url/5MuWbuf1wyFDcuvxh600UnpwQSg.pdf) (631.2 KB)
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 2, 2020, 7:11pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/99 "2020-10-02T19:11:15Z")
Oasis Petroleum filed a pre-packaged Chapter 11 in Houston. Press release is below. The deadlines are:
**Voting Deadline: November 2, 2020 at 4:00 p.m. (CT)**
**Objection Deadline: November 2, 2020 at 4:00 p.m. (CT)**
**Confirmation Hearing: November 10, 2020 at 3:30 p.m. (CT)**
They also have gotten an order entered authorizing paying royalty owners. However, you need to review Disclosure Statements carefully and the Plan to see what kinds of lease claims have to be presented in the bankruptcy versus ones that you can continue to present afterward.
[Oasis Press Release.pdf](https://www.mineralrightsforum.com/uploads/short-url/ooalTlK6GRnTtV05NgvRwNFcCxM.pdf) (1.0 MB)
[Joint Disclosure Statement.pdf](https://www.mineralrightsforum.com/uploads/short-url/cTsn7Zpt76PxIBpyP4DB2X88fQ4.pdf) (6.6 MB)
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### Author:  [@jp1](https://www.mineralrightsforum.com/u/jp1)
#### Post date: [October 7, 2020, 8:21pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/100 "2020-10-07T20:21:10Z")
We receive royalties from Oasis and received the bankruptcy packet. Tried to wade through the “Opt-Out” form, but uncertain whether it applies to mineral leases? Any information would be appreciated.
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 16, 2020, 4:01pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/101 "2020-10-16T16:01:50Z")
JP1 - Cannot comment without seeing packet and knowing your situation. There is no one size fits all in bankruptcy cases.
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [October 16, 2020, 4:08pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/102 "2020-10-16T16:08:53Z")
As predicted here since shortly after the filing, MTE Holdings (MDC) looks like it is headed to a liquidating Chapter 11. Bids are due by November 6 and the auction is November 13. Order was signed yesterday. It is subject to objections, but these are usually overruled.
[public\_X041\_10060\_PLEADINGS\_1006010152080000000183.pdf](https://www.mineralrightsforum.com/uploads/short-url/62YnepZbVC6QrNkzjR92gA2Y9bR.pdf) (65.8 KB)
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### Author:  [@Dusty1](https://www.mineralrightsforum.com/u/Dusty1)
#### Post date: [October 21, 2020, 2:07am UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/103 "2020-10-21T02:07:59Z")
Wade, am I reading it right that the MDC debtors just withdrew their petition to force liquidation that they had issued five days earlier? Does this mean negotiations are on again? I thought the bankruptcy court was who decides when it’s time to stop talking and put everything up for sale?
[https://cases.stretto.com/public/X041/10060/PLEADINGS/1006010202080000000225.pdf](https://cases.stretto.com/public/X041/10060/PLEADINGS/1006010202080000000225.pdf)
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### Author:  [@wade\_caldwell](https://www.mineralrightsforum.com/u/wade_caldwell)
#### Post date: [November 9, 2020, 5:26pm UTC](https://www.mineralrightsforum.com/t/oil-company-bankruptcies-and-info/56868/104 "2020-11-09T17:26:00Z")
Ameredev was the winning bidder for Lillis’ assets at $42.6 million.
[Link](https://www.globenewswire.com/news-release/2020/11/09/2122347/0/en/Lilis-Energy-Announces-Ameredev-Texas-LLC-as-Winning-Bidder-for-Substantially-All-of-Its-Assets-in-Competitive-Auction-as-Part-of-Chapter-11-Process.html)
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