Castex committee seeks more time to prepare for DIP financing hearing

By Caroline Salls

Pittsburgh, Nov. 3 – Castex Energy Partners, LP’s official committee of unsecured creditors asked the U.S. Bankruptcy Court for the Southern District of Texas to postpone the hearing scheduled for Nov. 8 on approval of the company’s proposed debtor-in-possession financing, according to a motion filed Friday.

“The committee and its counsel and financial adviser are getting up to speed as quickly as possible,” the motion said.

The committee said its counsel attempted to reach Castex’s counsel multiple times to confer regarding the bankruptcy cases and to request limited discovery that the committee needs to review over the weekend to prepare for the hearing.

However, the creditor group said Castex’s counsel has not yet responded to its requests.

Houston-based Castex is engaged in the exploration, development, production and acquisition of oil and natural gas properties. The company filed bankruptcy on Oct. 16 under Chapter 11 case number 17-35835.

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