Bennu Oil & Gas’ sale of Clipper assets approved by court

New York, Aug. 1 – Bennu Oil & Gas, LLC received court approval for the $3.3 million sale of its Clipper assets to stalking horse bidder Murphy Exploration and Production Co. – USA in an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company’s Chapter 7 trustee previously canceled an auction scheduled for July 31 after no qualified competing bids were received by the July 28 deadline.

Houston-based Bennu is an oil and gas exploration and production company in the Gulf of Mexico. The company filed bankruptcy on Nov. 30, 2016 under Chapter 7 case number 16-35930.

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