EP Energy MSB ranch owners withdraw exclusivity extension objection

By Caroline Salls

Pittsburgh, March 25 – A group of EP Energy Corp. ranch owners has withdrawn its conditional objection to the company’s proposed exclusivity extension, according to a notice filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The MSB owners said in the withdrawal notice that “the parties have confirmed terms of an unopposed order extending the exclusive period to April 30.”

As previously reported, the owners said in the objection that EP Energy’s exclusivity should be allowed to expire if their rights, claims, interests and contracts are not stipulated to pass through the bankruptcy cases and if the Chapter 11 plan being proposed by the company was not confirmed.

The objecting MSB owners included Storey Minerals, Ltd., Storey Surface, Ltd., Maltsberger, LLC, Maltsberger/Storey Ranch, LLC, Maltsberger/Storey Ranch Lands, LLC, the Estate of Sarah Lee Maltsberger and Rene R. Barrientos, Ltd.

On Monday, the confirmation status for EP Energy’s plan of reorganization was vacated by the bankruptcy court and a stipulation that terminates the support agreement and backstop commitment agreement underlying the Chapter 11 plan was approved.

The oil and natural gas exploration and production company is based in Houston. The company filed bankruptcy on Oct. 3 under Chapter 11 case number 19-35654.

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