TXCO Resources' DIP facility maturity date extended to Feb. 1

By Caroline Salls

Pittsburgh, Sept. 8 - TXCO Resources Inc.'s debtor-in-possession financing has been extended to Feb. 1 from Dec. 15, according to a Tuesday filing with the U.S. Bankruptcy Court for the Western District of Texas.

The company said the extension will give it enough time to formulate and seek confirmation of a consensual plan of reorganization.

If the plan takes effect before Feb. 1, the DIP facility will mature on the effective date.

TXCO, a San Antonio-based energy company, filed for bankruptcy on May 18. Its Chapter 11 case number is 09-51807.

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