Joint Reorganization Plan and Disclosure Statement Filed by Kingfisher Midstream, LLC, Kingfisher STACK Oil Pipeline, LLC, Oklahoma Produced Water Solutions, LLC, and Cimarron Express Pipeline, LLC
March 03, 2020 at 12:00 am EST
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Kingfisher Midstream, LLC, Kingfisher STACK Oil Pipeline, LLC, Oklahoma Produced Water Solutions, LLC, and Cimarron Express Pipeline, LLC filed a joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on March 3, 2020. As per the plan filed, administrative claims, professional fee claims, priority tax claims and adequate protection claims will be paid full in cash. Other priority claims and other secure claims will be paid full in cash or any other treatment agreed. Credit agreement claims will have a recovery rate of 33% and will be paid in cash, while holders of general unsecured claims will receive no distribution. Intercompany claims shall be either be paid, reinstated or cancelled as decided by the debtors, while all the intercompany interests will be cancelled. The plan will be funded through cash in hand, sale of assets, cash from wind-down reserve and a claim reserve and free reserve account will be established from the distributable cash.
Alta Mesa Resources, Inc. is a United Staes-based oil and gas exploration company. The Company is an independent exploration and production company focused on the development of unconventional onshore oil and natural gas reserves in the eastern portion of the Anadarko Basin in Oklahoma. The Company operate in two reportable business segments - Upstream and Midstream.
Joint Reorganization Plan and Disclosure Statement Filed by Kingfisher Midstream, LLC, Kingfisher STACK Oil Pipeline, LLC, Oklahoma Produced Water Solutions, LLC, and Cimarron Express Pipeline, LLC