Edge Petroleum obtains authorization for final cash collateral access

By Alice Popovici

New York, Oct. 28 - Edge Petroleum Corp. received final access to cash collateral after filing an emergency motion seeking the order, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

The company was granted interim access to the cash collateral on Oct. 7.

It will use the cash collateral "to fund, among other things, their cash requirements for ordinary course business operations and to maintain the value of their bankruptcy estates and for other purposes permitted by this final order," the motion states.

Edge, a Houston-based oil and natural gas company, filed for bankruptcy on Oct. 1 in the U.S. Bankruptcy Court for the Southern District of Texas. Its Chapter 11 case number is 09-20644.

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