Gavilan Resources sale hearing continued to Oct. 5; auction Sept. 29

By Caroline Salls

Pittsburgh, Sept. 15 – Gavilan Resources, LLC’s asset sale hearing has been continued to Oct. 5 from Sept. 17, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

Gavilan requested the continuance in a motion filed on Monday, saying it needed more time to consider and select a bid for the assets.

Under a revised sale timeline also filed on Monday, auction participants will receive a copy of the initial highest bid by Sept. 22 and an auction will be held on Sept. 29, if necessary.

Gavilan Resources is a Houston-based private company established in 2017 in partnership with Blackstone to acquire, develop and produce oil and natural gas assets in the Eagle Ford Shale play in South Texas. The company filed bankruptcy on May 15 under Chapter 11 case number 20-32656.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.