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Murphy Energy trustee requests OK of $1.18 million Texas property sale
By Caroline Salls
Pittsburgh, July 28 – Murphy Energy Corp.’s Chapter 7 trustee requested court approval to sell the company’s real property in the Woodlands, Texas, to Red Fox Holdings, LLC for $1.18 million, according to a motion filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.
Chapter 7 trustee Jason R. Searcy said the proposed sale price is for a 100% interest in the property and is a cash offer.
The trustee is looking to retain $25,000 from the closing proceeds as commission, the motion said.
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, 2016 under Chapter 11 case number 16-33971.
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