Does anyone have any insight on the Bankruptcy of Rockall Energy or Petro Harvester? I am a concerned mineral rights owner.
You can follow the news on several of the search engines. They filed chapter 11. Here is one of them. 🛢New Chapter 11 Bankruptcy Filing - Rockall Energy Holdings LLC🛢
yes, thank you for sharing the link. I did receive the documents in the mail. I looking to connect with others that may have more knowledge of the situation and would be willing to share.
I had this happen to Oasis about a year and a half ago. It was a prepackaged bankruptcy and nothing changed on my end. I continued to get my royalty checks on time and the whole thing was over in about 60 days. My impression is the last thing these companies want to do is impair their oil leases. Instead, it seems they want to give their lenders and vendors a haircut.
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Operators of my wells have been dropping like flies and filing bankruptcy. Most likely, this shouldn’t effect you. If the value is still there. Production will continue. Of the several operators of my wells who filed bankruptcy, I think only one of them was late with a royalty payment and it was made up the next month. As far as I know, this is the norm. Someone always owns that production, inherited encumbered with the leases even if it changed hands and the bankruptcy wasn’t just a reorganization, and it will produce as long as it’s economic to do so. I skimmed the large amount of paper I got in the mail and at no point did I find anything I needed to act on. I recommend looking at all of the notice you get in reference to the matter, but I think most likely you won’t find you have to do anything either.
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Thank you! I appreciate your response
Hi, Our family has a lease with Petro Harvester/Rockall too. We see on the ND oil permit site that they renewed our drilling permits on Feb 14th of this year. Then they filed bankruptcy on March 9th. They would have had to know that they were going to file Chapter 11 when they renewed our drilling permits on Feb 14th. To me, this all looks like they are regrouping, reorganizing, maybe merging/bought out, and it will all be ok in the long run. Companies are and have done this so much in the past and now through all these uncertain times. I’m going to think positive that it will be a better scenario for all of us once this is settled. Who knows… time will tell, right?
Agree, we are keeping a positive attitude also… Thanks for sharing
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