⛽️New Chapter 11 Bankruptcy Filing - Yuma Energy Inc.⛽️

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Yuma Energy Inc.

April 15, 2020

Houston-based Yuma Energy Inc. and three affiliates, oil and gas producers focused on the Rocky Mountain, Mid-Continent, Gulf Coast and West Texas regions of the US, filed chapter 11 cases in the Northern District of Texas.

There ain’t much new here worth noting given that every oil and gas company is troubled and they all sing the same tune about commodity prices post-2015. But there was one striking admission in Yuma’s bankruptcy papers that is nearly as pervasive as commodity price effects. In the company’s own words, “…the decline in the financial health of the company stemmed not only from dropping commodity prices, but more importantly with a continuing high level of G&A for a company it’s [sic] size….” That’s right: bloated G&A. It’s as prevalent in Texas as oil itself.

This case is a liquidation.

  • Jurisdiction: N.D. of Texas (Judge Mullin)

  • Professionals:

    • Legal: FisherBroyles LLP (H. Joseph Acosta, Lisa Powell)

    • Financial Advisor: Ankura Consulting Group (Anthony Schnur)

    • Investment Banker: Seaport Gordian Energy LLC

    • Claims Agent: Stretto (*click on the link above for free docket access)

  • Other Parties in Interest: