Black Elk Energy cash collateral use extended to Dec. 2 hearing date

By Caroline Salls

Pittsburgh, Nov. 24 – Black Elk Energy Offshore Operations, LLC’s cash collateral use was extended through Dec. 2 to coincide with the adjournment of a hearing on the cash collateral motion, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The hearing was previously scheduled for Nov. 24.

The company said in the extension and adjournment motion that it has reached an agreement with its noteholders to continue the cash collateral order through Dec. 2.

Black Elk said it continues to investigate opportunities with the noteholders and others for debtor-in-possession financing.

Black Elk Energy is a Houston-based oil and gas company that filed for bankruptcy on Sept. 15. The Chapter 11 case number is 15-34287.

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