In order to create a sustainable capital structure to support our operations and overcome a severe and protracted cyclical downturn in commodity prices exacerbated by adverse operating conditions, Energy & Exploration Partners, Inc. and its subsidiaries filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas (Fort Worth).
Chapter 11 is intended to permit a company to continue normal business operations while it restructures its debt. By taking these actions, Energy & Exploration Partners, Inc. and its subsidiaries was able to address its financial challenges as well as align its capital structure with the Company’s current state of operations and prevailing oil and gas price environment for longer term sustainability.
Importantly, we will continue normal day-to-day operations during the reorganization, including:
On April 26, 2016, the United States Bankruptcy Court for the Northern District of Texas entered an order confirming the Company’s joint plan of reorganization and on May 13, 2016, the Company’s plan became effective. While the Company emerged from bankruptcy on May 13, 2016, the Company’s chapter 11 cases are still pending while the Company and the creditor trust established under the plan review and reconcile claims filed against the Company during the chapter 11 cases.
Additional information regarding the restructuring and the claims bar date is available at PRIME CLERK (http://cases.primeclerk.com/ENXP) or send an email to ENXPinfo@primeclerk.com.
The contact center numbers for this matter are:
Toll-Free Number (North America): 844-597-1420
International: +1 929-333-8980