We have received notification of filing for Chapter 11 bankruptcy by Oasis Petroleum, Inc., from whom we are receiving royalty payments.
Any advice on how we proceed?
Thank you
We just got done with Whiting Chapter 11 bankruptcy. As a royalty owner all I had to do was nothing except to open the mail from the attorneys every once in awhile updating where they were in the process. Other than that they royalty checks kept coming. I would expect Oasis to be the same.
Thank you for the information. Do you recall also receiving an “Opt-Out” Form? I can’t quite make out the legalese.
Again, thank you for responding.
If you search on the forum, the NARO category has a whole list of bankruptcies and comments regarding them. I think I saw that the Oasis bankruptcy is a pre-packaged deal.
Received the same information from Oasis. You don’t have to do anything, the mailings are informational for those receiving royalty payments.
Thank you for the information!
Thank you for reply.
What does a “pre packaged deal” mean in terms of the Oasis bankruptcy? Thanks for your response in advance.
A prepackaged bankruptcy is a plan for financial reorganization that a company prepares in cooperation with its creditors that will take effect once the company enters Chapter 11.
This topic was automatically closed after 90 days. New replies are no longer allowed.