Joy: forgot to add that a bankrupt company must notify creditors. I f they do not owe you delinquent royalties you will not be considered a creditor.
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Joy, I have always received bankruptcy paperwork from all of my operators. Standard procedure since the royalty owners are a special category of creditor (depending upon the state). The paperwork will have a website for information where you can find more and you will be inundated with paper as well.
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thanks–good to know
Most of mine are in Texas. Thanks for the information.
Victerra energy Holding Co, LLC filed a Chapter 11 in Houston. I will post a link for the docket when I have it.
Some news outlets reporting Chesapeake likely to file bankruptcy.
Whiting filed the Schedules and Statement of Financial Affairs and set a bar date for claims of May 8, 2020 for most claims.
Diamond Offshore Drilling filed Chapter 11 in Houston.
2020-04-26 Voluntary Petition - Diamond Offshore Rig Investments Ltd.pdf (1.2 MB)
Yuma intends to liquidate.
Yuma Energy and David Petroleum filed Ch 11 in Fort Worth.
Victerra docket sheet.
Pacer Docket.pdf (185.2 KB)
Ultra Petroleum filed Chapter 11 in Houston May 14. Press release and some filings below.
2020-05-15 Debtor’s Chapter 11 Plan of Reorg.pdf (1.2 MB) Pacer Docket.pdf (250.9 KB) Ultra May 14 2020 Press Release.pdf (156.2 KB)
Reuters just posted that Blackstone Group LP’s Gavilan Resources LLC filed for Charpter 11 bankruptcy on May 15.
Tulsa’s Unit Corporation filed Chapter 11 bankruptcy in Houston. They expect to restructure.
Ultra Petroleum got authority to continue to pay Mineral Payments to Mineral Payees. You have to look a that term as it is defined in the motion to make sure you will get royalty checks.
2020-05-18 Order Approving Payment of Certain Interests.pdf (161.2 KB) 2020-05-19 Order on Hedging Arrangements and Admin Claims.pdf (288.8 KB)
Whiting and some of its related companies amended their Statements of Financial Affairs.
Unfamiliar with how to address issues or concerns as I am not a person to frequent the forums, here’s hoping you don’t mind my approaching you if you have any info at all about Continental and Burke Cnty< ND
Out of the loop regarding status/activity for quite a while, I am asking what may have already been posted by others. Aware that Continental Resources, like other oil producing firms has had to shut down operations due to COVID-19 and due to the glut of stored oil due to world-wide travel being interrupted for 3 months now, would you have any light on what, if anything may be in the future for Continental REsources?
Burke County and Well 100657 POINTS 1-6H is what I inherited in 2012 or part of and wondering if Continental had a lease agreement, what options are to move to a different firm or hold on to the sun shines again?
Any help is appreciated!
Thank you!
Tim Starkweather
If the well was active, then Continental had a lease agreement or a pooling. What is the section, township and range for the well? Continental can choose to shut in the well for a period of time-hopefully rather short until the supply and demand balance out. Your ancestor’s lease is most likely with Continental or another lessee. You are held by that contract. Probably just have to wait this out for a few months and see what develops. You can follow Continental Resources on the internet and see what they say to the public about their plans.
Templar Energy out of OKC, founded by David Le Norman (Chairman of the Oklahoma Petroleum Alliance). filed Chapter 11 bankruptcy. This one is filed in Delaware, so keep an eye on it if you are a mineral owner. You need to watch the proceedings that are mailed to you.
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Unit Corp. filed on May 22. On May 26, an Order was entered giving them until June 19 to file their schedules. The first day hearings were held and will continue on June 19. Additionally, an Order was entered allowing the Debtors to honor and pay mineral payments and working interest disbursements. There is no packaged Chapter 11 Plan and, in fact, the Debtors filed a motion requesting authorization to obtain post-petition financing. An Order was entered on May 26 granting that motion.
Prime Clerk is the third party noticing agent. This case is in the United States Bankruptcy Court for the Southern District of Texas, Courtroom 400, 515 Rusk Street, Houston, TX 77002.
Unit Corp. has two press releases displayed on its website. The oldest is for their Chapter 11 bankruptcy. The latest, dated May 26, 2020, announces they have been delisted by the New York Stock Exchange.
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