Successful Chapter 11 363 sale of substantially all assets of an upstream oil and gas company

• Através de planejamento estratégico e engajamento das partes interessadas, Huron navegou em desafios legais e financeiros multifacetados, posicionando finalmente a Asep para o sucesso sustentado em meio ao mercado de energia volátil. Retornos e interesses alinhados das partes interessadas. paisagem
• Huron's strategic leadership and comprehensive stakeholder engagement successfully guided ASEP through the complexities of Chapter 11 bankruptcy, ensuring a structured and effective asset liquidation process that maximized creditor returns and aligned stakeholder interests.
• By orchestrating a comprehensive sale of assets and securing a critical $11 million debtor-in-possession (DIP) financing facility, Huron facilitated ASEP’s stabilization, resulting in nearly $100 million in revenue and significant improvement in net value.

Alpine Summit Energy Partners (ASEP) was an upstream oil and gas company that primarily operated in Austin Chalk and Eagle Ford shale regions of Texas. The company filed for Chapter 11 bankruptcy on July 5, 2023, in the Southern District of Texas.

ASEP entrou com o capítulo 11 com US $ 54,5 milhões em dívida financiada. A empresa estava lidando com uma crise de liquidez precipitada pelo declínio dos preços das commodities para gás e petróleo natural, juntamente com preocupações com liquidez e dificuldade em garantir novos acordos de crédito. O objetivo era claro, mas complexo: vender substancialmente todos os ativos da ASEP de uma maneira que maximizava o valor e facilitou a compensação do credor - um processo complexo que envolveu múltiplos litígios com partes variadas com interesses adquiridos, incluindo parceiros de perfuração, que abordam o comitê de credores não seguros. Tudo projetado para abordar os desafios e objetivos únicos da ASEP. Suas experiências e informações estratégicas foram fundamentais para navegar nas complexidades da venda de ativos, garantindo que os objetivos da empresa fossem alcançados de maneira eficiente e eficaz. Isso incluiu comunicação regular com credores, investidores e gerenciamento interno da ASEP para garantir a transparência e criar consenso sobre a estratégia de reestruturação. Otimizando as devoluções do credor. Esse esforço foi fundamental para descobrir discrepâncias e irregularidades pertinentes que poderiam impactar os procedimentos de reestruturação. A investigação forense forneceu informações cruciais para a tomada estratégica de decisões da ASEP, garantindo transparência e conformidade ao longo do processo. acordou -se com a hierarquia, gerenciando efetivamente as expectativas das partes interessadas e minimizando possíveis disputas. Essa consolidação de ativos foi uma conquista crucial, catalisando uma série de efeitos positivos da ondulação para a ASEP. Aviso

The approach encompassed several key elements, all designed to address ASEP’s unique challenges and objectives.

• Leadership in crisis management: Two of Huron's team members provided interim c-suite leadership throughout ASEP's restructuring in the roles of chief restructuring officer and deputy chief restructuring officer. Their experience and strategic insights were instrumental in navigating the complexities of the asset sale, ensuring that the company’s objectives were achieved efficiently and effectively.
• Comprehensive stakeholder engagement: Proactive discussions with all stakeholders early in the process helped maintain collegial relationships throughout to ensure the most seamless process possible. This included regular communication with creditors, investors, and ASEP's internal management to ensure transparency and build consensus on the restructuring strategy.
• Customized financial analysis and advisory services: Leveraging innovative financial modeling techniques and the team’s deep bench of experts, a meticulous assessment of ASEP's financial standing was conducted to develop a robust, customized plan aimed at maximizing asset value and optimizing creditor returns.
• Forensic investigation and analysis: Huron deployed its forensic team to conduct an in-depth investigation into ASEP’s financial practices and transactions. This effort was critical in uncovering pertinent discrepancies and irregularities that could impact the restructuring proceedings. The forensic investigation provided crucial insights for ASEP’s strategic decision making, ensuring transparency and compliance throughout the process.
• Strategic waterfall wind-down execution: With one team member acting as the lienholder trustee, Huron coordinated the prioritization and distribution of proceeds from asset sales using a waterfall approach that ensured an orderly and equitable allocation to creditors based on an agreed upon hierarchy, effectively managing stakeholder expectations and minimizing potential disputes.

• The combined efforts of Huron and ASEP’s dedicated teams led to the successful sale of all ASEP’s assets, amassing close to $100M in value. This asset consolidation was a crucial achievement, catalyzing a series of positive ripple effects for ASEP.
• Moreover, Huron secured an interim $11 million debtor-in-possession (DIP) financing facility, a vital monetary reservoir to sustain ASEP through its transitional phase.