Represented this privately held oil and gas exploration and production company with substantial producing and prospective assets in south and central Texas and in Mississippi. The assets were sold in a series of controlled auctions supervised by the bankruptcy court, resulting in a substantial recovery to the company’s unsecured creditors and a full recovery to its banks. The bankruptcy was precipitated by a massive blowout of a gas well in southern Mississippi that threatened toxic exposure to hundreds of persons in the vicinity of the blowout. Well control and remediation costs were in excess of $15 million.
Debtor Representation - Rand Energy Company
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