First Amended Reorganization Plan Filed by Kingfisher Midstream, LLC, Kingfisher Stack Oil Pipeline, LLC, Oklahoma Produced Water Solutions, LLC, and Cimarron Express Pipeline, LLC
April 22, 2020 at 12:00 am EDT
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Kingfisher Midstream, LLC, Kingfisher Stack Oil Pipeline, LLC, Oklahoma Produced Water Solutions, LLC, and Cimarron Express Pipeline, LLC, filed first amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on April 22, 2020. As per the amended plan filed, credit agreement claim of $224 million shall be recovered 20% i.e. $44.8 million and shall receive excess distributable cash of at least $1.3 million, and quarterly there after until the claim is paid in full, is the claim is not satisfied in full, then will receive distribution from excess reserve amounts. There are no changes in the treatment of any other claim class.
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.
First Amended Reorganization Plan Filed by Kingfisher Midstream, LLC, Kingfisher Stack Oil Pipeline, LLC, Oklahoma Produced Water Solutions, LLC, and Cimarron Express Pipeline, LLC