Nine Point Submits $250M Stalking Horse Bid, $20M DIP
ADVERTISEMENT ADVERTISEMENT Nine Point Submits $250M Stalking Horse Bid, $20M DIP Law360 (April 9, 2021, 5:30 PM EDT) -- Colorado-based oil and gas company Nine Point Energy asked a Delaware bankruptcy judge on Friday to allow it to accept $20 million in Chapter 11 financing and a $250 million stalking horse credit bid for its assets from its secured lenders. In motions submitted on Friday, Nine Point said it hopes to have its assets on the block by mid-June and in the hands of its secured lenders or another buyer by July. The company — which operates 198 wells in North Dakota and Montana ...
Source: law360.com