Polaris Operating, LLC Bankruptcy Docket

Cases

Converted to Chapter 7 on Jun 11, 2025

Updated Oct 2, 8:14 PM ET

Petition filed
Jul 28, 2023
Converted to Chapter 7
Jun 11, 2025

Polaris Operating, LLC entered Chapter 7 liquidation on June 11, 2025, following asset sales, under the conversion order Dkt. 648. The court also approved a wind-down budget and authorized sale-proceeds distributions Dkt. 647, setting the path for distributions and administration of the remaining estate by trustee Eva S. Engelhart.

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Key firms

SP Securities LLCInvestment Banker
Stout Risius Ross, LLCChief Restructuring Officer
Davis, Gerald & Cremer, P.C.Special Counsel

Recent filings

Jun 23Witness List, Exhibit List (Filed By LRG Energy, LLC, Large Operating, LLC, Cory Meadows, Ponderosa TX Operating, LLC ).(Related document(s):602 Generic Motion) (Attachments: # 1 Exhibit Large 1 - Order (I) Approving Asset Purchase Agreement and Authorizing the Sale of the Debtors Masteron Assets Outside the Ordinary Court of Business, (II) Authorizing the Sale of Assets Free and Clear of All Liens, Claims, Encumbrances and Interests (III # 2 Exhibit Large 2 - Asset Purchase Agreement, dated as of October 7, 2024, by and between Polaris Operating, LLC, et al, as Seller, and Freedom 2 Energy, LLC, as Buyer # 3 Exhibit Large 3 - Lease Agreement, dated May 31, 1920, between Georgie R. and Terry Thompson T.E. Durham # 4 Exhibit Large 4 - Reservation of Rights Agreement, between Debtors and Ponderosa TX Operating, LLC # 5 Exhibit Large 5 - Statement of Contango Oil and Gas, LLC in Advance of Masterson Auction # 6 Exhibit Large 6 - Memorandum Opinion and Order from Case No. 2:25-CV-071-Z of NDTX # 7 Exhibit Large 7 - Transcript of Auction Before the Honorable Christopher M. Lopez, dated October 8, 2024) (Green, Gordon) (Entered: 06/23/2025)Bankr. S.D. Tex., No. 23-32810, ECF No. 657Dkt. 657
Jun 23Trustee's Notice of Assets & Request for Notice to Creditors Proofs of Claims due by 9/26/2025. (Engelhart, Eva) (Entered: 06/23/2025)Bankr. S.D. Tex., No. 23-32810, ECF No. 656Dkt. 656
Jun 20Debtor-In-Possession Monthly Operating Report for Filing Period ending 5/31/2025, $700867 disbursed (Filed By Polaris Operating, LLC ). (Attachments: # 1 Supplement to MOR for May 2025 for Polaris Operating, LLC et al.) (Oldham, John Thomas) (Entered: 06/20/2025)Bankr. S.D. Tex., No. 23-32810, ECF No. 655Dkt. 655
Jun 12Notice of Chapter 7 Conversion and 341 MeetingBankr. S.D. Tex., No. 23-32810, ECF No. 649Dkt. 649
Jun 11Motion to Vacate Lift Stay OrdersBankr. S.D. Tex., No. 23-32810, ECF No. 643Dkt. 643
Jun 11Final Fee Order for Stout Risius RossBankr. S.D. Tex., No. 23-32810, ECF No. 645Dkt. 645

Full docket (775) →

Case facts and filing dates come from court records.

Converted to Chapter 7 on Jun 11, 2025

Updated Oct 2, 8:14 PM ET

Petition filed
Jul 28, 2023
Converted to Chapter 7
Jun 11, 2025

Case docket on PACER

Research this case

Search available documents for this case. Full docket access requires Pro.

Open case research

Key firms

SP Securities LLCInvestment Banker
Stout Risius Ross, LLCChief Restructuring Officer
Davis, Gerald & Cremer, P.C.Special Counsel

Recent filings

Jun 23Witness List, Exhibit List (Filed By LRG Energy, LLC, Large Operating, LLC, Cory Meadows, Ponderosa TX Operating, LLC ).(Related document(s):602 Generic Motion) (Attachments: # 1 Exhibit Large 1 - Order (I) Approving Asset Purchase Agreement and Authorizing the Sale of the Debtors Masteron Assets Outside the Ordinary Court of Business, (II) Authorizing the Sale of Assets Free and Clear of All Liens, Claims, Encumbrances and Interests (III # 2 Exhibit Large 2 - Asset Purchase Agreement, dated as of October 7, 2024, by and between Polaris Operating, LLC, et al, as Seller, and Freedom 2 Energy, LLC, as Buyer # 3 Exhibit Large 3 - Lease Agreement, dated May 31, 1920, between Georgie R. and Terry Thompson T.E. Durham # 4 Exhibit Large 4 - Reservation of Rights Agreement, between Debtors and Ponderosa TX Operating, LLC # 5 Exhibit Large 5 - Statement of Contango Oil and Gas, LLC in Advance of Masterson Auction # 6 Exhibit Large 6 - Memorandum Opinion and Order from Case No. 2:25-CV-071-Z of NDTX # 7 Exhibit Large 7 - Transcript of Auction Before the Honorable Christopher M. Lopez, dated October 8, 2024) (Green, Gordon) (Entered: 06/23/2025)Bankr. S.D. Tex., No. 23-32810, ECF No. 657Dkt. 657
Jun 23Trustee's Notice of Assets & Request for Notice to Creditors Proofs of Claims due by 9/26/2025. (Engelhart, Eva) (Entered: 06/23/2025)Bankr. S.D. Tex., No. 23-32810, ECF No. 656Dkt. 656
Jun 20Debtor-In-Possession Monthly Operating Report for Filing Period ending 5/31/2025, $700867 disbursed (Filed By Polaris Operating, LLC ). (Attachments: # 1 Supplement to MOR for May 2025 for Polaris Operating, LLC et al.) (Oldham, John Thomas) (Entered: 06/20/2025)Bankr. S.D. Tex., No. 23-32810, ECF No. 655Dkt. 655
Jun 12Notice of Chapter 7 Conversion and 341 MeetingBankr. S.D. Tex., No. 23-32810, ECF No. 649Dkt. 649
Jun 11Motion to Vacate Lift Stay OrdersBankr. S.D. Tex., No. 23-32810, ECF No. 643Dkt. 643
Jun 11Final Fee Order for Stout Risius RossBankr. S.D. Tex., No. 23-32810, ECF No. 645Dkt. 645

Full docket (775) →

Case facts and filing dates come from court records.