New Chapter 11 Filing - Red Fork (USA) Investments Inc.

in

8/7/18

Red Fork (USA) Investments Inc., a Texas-headquartered oil and gas exploration and production company focused on five counties in Oklahoma, filed for bankruptcy after capitulating under the weight of its debt and inability to generate enough revenue to cover it. The company is also the subject of a number of legal actions asserting that the company owned and/or operated saltwater disposal wells that "caused or contributed" to certain earthquakes. Given the costs of the latter and the lack of revenue from E&P initiatives, the company commenced its chapter 11 cases. 

  • Jurisdiction: W.D. of Texas 
  • Capital Structure: $119.5mm debt (Guggenheim Corporate Funding LLC)    
  • Company Professionals:
    • Legal: Dykema Gossett PLLC (Deborah Williamson, Patrick Huffstickler, Jesse Moore)
    • Claims Agent: Epiq Bankruptcy Solutions LLC (*click on company name above for free docket access)
    • Independent Board Director: Eugene Davis
  • Other Parties in Interest:
    • Prepetition Secured Lenders: Guggenheim Corporate Funding LLC
      • Legal: Haynes and Boone LLP (Charles Beckham Jr., Martha Wyrick, Matthew Ferris)