Gavilan gets court OK to sell assets to Mesquite for $50 million

By Sarah Lizee

Olympia, Wash., Oct. 16 – Gavilan Resources, LLC obtained court approval to sell its assets to winning bidder Mesquite Energy, Inc. for $50 million, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

The targeted closing date is Oct. 30, according to the asset purchase agreement.

Gavilan Resources is a Houston-based private company established in 2017 in partnership with Blackstone to acquire, develop and produce oil and natural gas assets in the Eagle Ford Shale play in South Texas. The company filed bankruptcy on May 15 under Chapter 11 case number 20-32656.

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