Murphy Energy trustee granted conversion of nine cases to Chapter 7

By Caroline Salls

Pittsburgh, April 11 – Murphy Energy Corp.’s Chapter 11 trustee received court approval of the conversion of the company’s bankruptcy cases to Chapter 7, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Northern District of Texas.

“Trustee believes that for each of the proposed converted cases no viable avenue for reorganization exists,” trustee Jason R. Searcy said in the motion.

“Cause therefore exists for conversion of these cases, and trustee contends that conversion is in the best interests of creditors of the estates.”

In addition to Murphy Energy Corp., the converted cases include Connect Transport, LLC, Big Rig Tanker, LLC, MG Rolling Stock Land, LLC, Murphy Holdings, Inc., Port Allen Terminal, LLC, Port Hudson Terminal LLC, Murphy Terminals, LLC and Connect Terminals, LLC.

Murphy Energy is a Tulsa, Okla.-based privately owned integrated midstream provider of transportation, storage and marketing services for crude oil, natural gas liquids and condensates. The company filed for bankruptcy on Oct. 5 under Chapter 11 case number 16-33971.

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