Sklar Exploration is in a long-running post-confirmation posture: its reorganization plan was confirmed in 2021, but the case remains open while the reorganized debtor continues making plan distributions and filing post-confirmation reports, with no final decree entered as of the year-end 2025 report. The latest quarterly report shows cumulative cash disbursements of about $43.7 million since the September 7, 2021 effective date, including $600,000 paid to secured creditors and a small general unsecured distribution during the quarter ended March 31, 2026, as reported in the March 2026 Post-Confirmation ReportDkt. 2155.
The debtors filed Chapter 11 on April 1, 2020, listing 383 creditors in the Chapter 11 Voluntary PetitionDkt. 1. Early case pressure centered on liquidity and secured debt: the Sklar declaration and cash-collateral motion describe an oil-and-gas operator dependent on access to cash collateral, with East West Bank holding a roughly $22.35 million prepetition secured line against substantially all assets, including accounts, cash, equipment, hedging agreements, and Sklarco oil-and-gas property interests, under the Howard Sklar DeclarationDkt. 39 and Cash Collateral MotionDkt. 34. Amended schedules later also identified vehicle-secured obligations to Ford Motor Company and Ally Bank in the Amended Schedules and SOFADkt. 560.
The case moved toward an operating reorganization rather than a sale or liquidation. After the debtors filed an amended disclosure statement in March 2021, they filed a plan supplement and then a second amended and restated joint plan of reorganization in May 2021, which classified seven creditor and interest classes and set the restructuring path through the Amended Chapter 11 PlanDkt. 1251. The court confirmed that plan on August 24, 2021 through the Confirmation OrderDkt. 1433.
The remaining case story is execution. The March 2026 report shows administrative claims paid in full, secured claims paid 79% of allowed claims, and general unsecured creditors paid about $1.74 million cumulatively against $18.53 million of allowed claims, with anticipated plan payments to unsecured creditors reported at $11.0 million in the March 2026 Post-Confirmation ReportDkt. 2155. The near-term posture is therefore not confirmation risk but post-confirmation administration: continued distributions, periodic reporting, and eventual movement toward a final decree once the reorganized debtor is ready to close the case.
