Saratoga Resources bankruptcy petition lists $219.24 million in debt

By Caroline Salls

Pittsburgh, June 19 – Saratoga Resources, Inc. had $101.28 million in total assets and $219.24 million in total debt as of March 31, according to its Chapter 11 bankruptcy petition filed Thursday with the U.S. Bankruptcy Court for the Western District of Louisiana.

Thomas F. Cooke, GSO Capital Partners LP and Andrew Clifford each own 5% or more of the company’s voting securities.

As previously reported, Saratoga believes at this time that it has enough cash to operate its businesses in the immediate term without need for debtor-in-possession financing.

The company is represented by Heller, Draper, Patrick, Horn & Dabney, LLC.

Saratoga Resources is an oil and natural gas exploration and production company based in Houston. The company has requested its case be jointly administered under Chapter 11 case number 15-50748.

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