Current updates are not available. Earlier updates remain below for historical context and may no longer reflect the case’s current position.
Earlier updates
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Hearings·
Rockall Energy Holdings, LLC filed Chapter 11 in the Northern District of Texas on March 9, 2022, alongside 15 related debtors, after liquidity pressure, failed out-of-court restructuring efforts, Steel Reef/WBI contract issues, and Shell Trading Risk Management’s acceleration of roughly $46 million in hedge obligations. The debtor group is a Dallas-based oil-and-gas exploration and production business; Scott M. Pinsonnault of Ankura is CRO, William Transier was appointed independent director, and the debtors entered bankruptcy with Term Loan Lenders holding the largest secured claims against substantially all assets Dkt. 1Dkt. 13.
The opening posture is aggressive: Rockall filed a prepackaged plan on day one, supported by a March 9 RSA and unanimous acceptance by the Secured Parties in Class 3. The plan preserves two paths: a third-party asset sale if bids generate enough cash to pay DIP claims and fund reserves, or an equitization/exit-facility outcome led by existing Term Loan Lenders if no payout event occurs Dkt. 14. The financing motion seeks a $51 million senior secured DIP package, including $17 million of new money and $34 million of roll-up obligations, with $5 million available on an interim basis and milestones requiring a final order within 23 days and plan effectiveness within 80 days Dkt. 21.
