Deal Snapshot
BREITBURN ENERGY PARTNERS COMPLETES CHAPTER 11 REORGANISATION; EMERGES AS NEWLY-FORMED COMPANY
Monday 16 April 2018

US-based oil and gas company Maverick Natural Resources, LLC began operating on April 6, 2018, after it emerged from Chapter 11 as the successor to Breitburn Energy Partners LP, the company said.
Maverick is majority-owned and controlled by funds and accounts managed by EIG Global Energy Partners. As a result of the restructuring process, Maverick has debt of approximately USD 105m, which is substantially lower than Breitburn's USD 2.96bn debt balance prior to initiating the restructuring process.


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Details
Date Published: 16/04/2018
Target: Breitburn Energy Partners
Country: USA
Sector: Petroleum/Natural Gas/Coal
Type: Restructuring
Financing:
Status: Closed
Vendor:
Buyer: Maverick Natural Resources
Comment:
As a result of the restructuring process, Maverick has debt of approximately USD 105m, which is substantially lower than Breitburn´s USD 2.96bn debt balance prior to initiating the restructuring process.

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