Elk Petroleum, Inc.

  1. December 06, 2024

    Under The Radar: Bankruptcy News You May Have Missed

    A Texas oil and gas driller is seeking permission to sell its oilfields, while the U.S. Trustee's Office is looking to shut another oil producer's yearslong Chapter 11 down, and creditors of a bankrupt medical implant maker are alleging the debtor's bankruptcy financing and sale plans are a way for its private equity sponsor to weasel out of product liability claims.

  2. May 20, 2021

    Elk Petroleum Ch. 11 Trustee Sues Execs For 'Gross' Failures

    A Chapter 11 litigation trustee for remnants of Elk Petroleum Inc. and its affiliates has sued four former top officers in Delaware's bankruptcy court on eight counts seeking damages ranging from $2.5 million to $32 million for financial "pilfering" and "gross" pre-bankruptcy governance failures.

  3. October 04, 2019

    Elk Petroleum Wins Nod For Ch. 11 Plan Confirmation

    Colorado-based oil and gas producer Elk Petroleum Inc. secured Chapter 11 confirmation for its two main affiliates Friday under an uncontested amended plan that capped nearly five months of battling in Delaware's bankruptcy and Chancery courts.

  4. September 26, 2019

    Elk Petroleum To Rescind $55M Stock Swap In Ch. 11 Deal

    Elk Petroleum filed a motion in Delaware late Wednesday to rescind a $55 million stock swap deal that jeopardized the oil and gas venture's $270 million Chapter 11 reorganization, in one of the keystones to a pending global settlement with mutinying creditors and equity holders.

  5. September 20, 2019

    Elk Petroleum Reaches Ch. 11 Deal With Equityholders

    Elk Petroleum Inc. told the Delaware bankruptcy court Friday it has hashed out a deal as to how assets will be divvied up among its affiliated entities to resolve a challenge to its Chapter 11 waged by preferred equity holders during a long hearing that got off to a tense start.

  6. September 12, 2019

    Battle Over $160M Claim Could Stall Elk Petroleum's Ch. 11

    A battle between creditors posturing for position in Elk Petroleum Inc.'s Chapter 11 continues, as an equityholder committee on Thursday asked a Delaware bankruptcy judge to disallow an estimated $160 million claim by Elk's largest secured creditor.

  7. July 30, 2019

    Elk Lenders Must Decide On Intent Ahead Of Ch. 11 Auction

    The proposed bidding procedures of bankrupt oil and gas driller Elk Petroleum Inc. received court approval Tuesday in Delaware, but only after a bankruptcy judge said secured lenders wishing to take part in the auction as bidders must announce that decision before the auction's start.

  8. July 29, 2019

    Elk Petroleum Equity Holders Cry Foul Over Ch. 11 Bid Plans

    The official committee of equity security holders in the Chapter 11 case of Elk Petroleum objected Monday in Delaware to what it called onerous terms for bidders to meet in an asset marketing process that was begun as part of a settlement among the debtors, creditors and the committee last week.

  9. July 25, 2019

    Elk Petroleum's Creditor Valuation Deal Approved In Delaware

    Bankrupt oil and gas driller Elk Petroleum Inc. received court approval Thursday for a settlement deal with creditors and equity holders that avoids their request for a Chapter 11 trustee and addresses valuation concerns by running an asset marketing process.

  10. July 22, 2019

    Elk Petroleum Avoids Ch. 11 Trustee In Settlement Bid

    Bankrupt oil and gas driller Elk Petroleum Inc. on Friday submitted a proposed settlement to the Delaware bankruptcy court that would cancel a bid by a secured creditor to appoint a trustee to oversee the debtors' cases, agreeing to have two independent directors installed to Elk's board.