Knight Energy granted approval of $1.73 million Oklahoma property sale

By Caroline Salls

Pittsburgh, Nov. 15 – Knight Energy Holdings, LLC obtained court approval of the $1.73 million sale of its Oklahoma City property, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Western District of Louisiana.

Capital Funding Investments, LLC submitted the highest bid for the property following a round of offers, which began with an initial $1 million bid, made by Capital Funding and another bidder.

Knight said the purchase agreement reached with Capital Funding requires the sale to close by Nov. 16.

Real estate broker CBRE, Inc. will receive a 6% commission in connection with the sale.

Knight, a Lafayette, La., oilfield rental tool company, filed bankruptcy on Aug. 8. The Chapter 11 case number is 17-51014.

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