Endeavour names winning bidders for assets totaling $9.65 million

By Mark Reccek

Bethlehem, Pa., Aug. 17 – Endeavour International Corp. named two winning bidders for the sale of its assets, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company named Augustus Energy Partners II LLC as the winning bidder for its Colorado assets, with a successful bid of $7.85 million.

Also, Endeavour named Energy Reserves Group LLC as the winning bidder for its Marcellus and Haynesville assets, with a successful bid of $1.8 million.

The company will seek approval of the sale of the assets to Augustus and Energy Reserves Group at a sale hearing on Aug. 24.

As previously reported, assets included in the sale are exploration licenses and/or producing properties in Colorado, Louisiana, Montana, New Mexico, Pennsylvania and Texas, which total approximately 18% of the company’s proven oil and gas reserves.

Endeavour is a Houston-based oil and gas exploration and production company focused on the North Sea and the United States. The company filed for bankruptcy on Oct. 10, 2014 under Chapter 11 case number 14-12308.

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