Templar Energy: Presidio Investment submits $91 million winning bid

By Caroline Salls

Pittsburgh, July 13 – Templar Energy LLC named Presidio Investment Holdings LLC as the winning bidder for its assets following an auction held on June 9, according to a notice filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Presidio has agreed to pay $91 million for the assets. However, a $1.95 million fee and a $350,000 expense reimbursement will be subtracted from that amount.

The fee and expense reimbursement are due to be paid under a stalking horse purchase agreement with Tapstone Energy, LLC, since Tapstone was not ultimately the winning bidder.

Friday’s notice also designates ZarvonaIII-A, LP as the back-up bidder, with an $88.25 million final offer.

The sale hearing is scheduled for July 14.

Templar Energy is an Oklahoma City-based exploration and production company that filed bankruptcy on June 1. The Chapter 11 case number is 20-11441.

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