Extraction’s reorganization reached effectiveness, as reported in the notice filed January 21, 2021 Dkt. 1652. The October 25, 2021 final decree Dkt. 2070 closed certain debtor cases and transferred claims and interests to the remaining case, leaving continued claims administration as the remaining procedural work.

Extraction Oil & Gas’s June 14, 2020 Chapter 11 proceeding resulted in a confirmed reorganization, with effectiveness reported in the notice filed January 21, 2021 Dkt. 1652. The court had confirmed the sixth amended joint plan on December 23, 2020 Dkt. 1509. The October 25, 2021 final decree Dkt. 2070 closed certain debtor cases and transferred claims and interests to the remaining case for continued administration.

The filing followed an expected liquidity shortfall by the end of June 2020. In his first-day declaration Dkt. 18, CEO Matthew Owens attributed the pressure to the oil-price collapse and COVID-19 impacts, reported approximately $35 million of rapidly diminishing liquidity, and described a restructuring support agreement with major lender, noteholder and preferred-equity constituencies. The debtor sought to preserve operations while pursuing reorganization.

The DIP financing motion Dkt. 40 described a $125 million facility commitment, including $50 million in new money and a roll-up of prepetition borrowings. The court’s July 20, 2020 final DIP order Dkt. 303 authorized postpetition financing and cash-collateral use, supporting operations and restructuring expenses during the case. Midstream rejection-claim disputes also featured in the path to confirmation: the debtors’ December 19, 2020 evidentiary objections Dkt. 1429 addressed witness and exhibit submissions for the confirmation and rejection-claim estimation hearings.

Post-emergence filings show claims reconciliation and operating-contract litigation. The reorganized debtors’ March 12, 2021 Swan claim objection Dkt. 1827 sought to disallow a $1,232,677 unsecured claim, arguing that it was time-barred and that no enforceable purchase agreement had been formed. Their March 17, 2021 Broomfield response Dkt. 1845 opposed abstention from consideration of the motion to assume an oil-and-gas operator agreement.

Extraction’s reorganization reached effectiveness, as reported in the notice filed January 21, 2021 Dkt. 1652. The October 25, 2021 final decree Dkt. 2070 closed certain debtor cases and transferred claims and interests to the remaining case, leaving continued claims administration as the remaining procedural work.

Extraction Oil & Gas’s June 14, 2020 Chapter 11 proceeding resulted in a confirmed reorganization, with effectiveness reported in the notice filed January 21, 2021 Dkt. 1652. The court had confirmed the sixth amended joint plan on December 23, 2020 Dkt. 1509. The October 25, 2021 final decree Dkt. 2070 closed certain debtor cases and transferred claims and interests to the remaining case for continued administration.

The filing followed an expected liquidity shortfall by the end of June 2020. In his first-day declaration Dkt. 18, CEO Matthew Owens attributed the pressure to the oil-price collapse and COVID-19 impacts, reported approximately $35 million of rapidly diminishing liquidity, and described a restructuring support agreement with major lender, noteholder and preferred-equity constituencies. The debtor sought to preserve operations while pursuing reorganization.

The DIP financing motion Dkt. 40 described a $125 million facility commitment, including $50 million in new money and a roll-up of prepetition borrowings. The court’s July 20, 2020 final DIP order Dkt. 303 authorized postpetition financing and cash-collateral use, supporting operations and restructuring expenses during the case. Midstream rejection-claim disputes also featured in the path to confirmation: the debtors’ December 19, 2020 evidentiary objections Dkt. 1429 addressed witness and exhibit submissions for the confirmation and rejection-claim estimation hearings.

Post-emergence filings show claims reconciliation and operating-contract litigation. The reorganized debtors’ March 12, 2021 Swan claim objection Dkt. 1827 sought to disallow a $1,232,677 unsecured claim, arguing that it was time-barred and that no enforceable purchase agreement had been formed. Their March 17, 2021 Broomfield response Dkt. 1845 opposed abstention from consideration of the motion to assume an oil-and-gas operator agreement.