New Chapter 11 Filing - Knight Energy Holdings LLC

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Knight Energy Holdings LLC

  • 8/8/17 Recap: We were starting to sleep on the oil and gas services space. This trainwreck - which had been kicking around for quite a while - is finally in bankruptcy court. We could bore you with the usual details about services companies sucking wind ever since gas prices imploded - what was it? nearly 24 months ago? - but why waste precious space when we can amuse you with stories of drug racketeering instead? After all, "People Make the Difference." Hahaha. Anyway, we guess it's our duty to, in fact, bore you with some more of the mundane restructuring facts so we will once we have more information. For now, we understand that the filing is pursuant to a restructuring support agreement and the debtors seek a multi-draw DIP credit facility of $10mm. More to come.
  • Jurisdiction: W.D. of Louisiana (Judge Summerhays)
  • Capital Structure: $mm debt     
  • Company Professionals:
    • Legal: Heller Draper Patrick Horn & Dabney, LLC (Douglas Draper, William Patrick III, Tristan Manthey, Cherie Nobles)
    • Financial Advisor: Opportune LLP (Gary Pittman)
    • Investment Banker: Bayshore Partners (Michael Turner)
    • Claims Agent: Donlin Recano & Company Inc. (*click on company name above for free docket access)
  • Other Parties in Interest:
    • Sponsor: Clearlake Capital Group LP
    • DIP Agent: Cantor Fitzgerald Securities
    • Official Committee of Unsecured Creditors
      • Legal: Baker Donelson Bearman Caldwell & Berkowitz PC (Jan M. Hayden, Edward H. Arnold III, Lacey Rochester, Susan Matthews)

Updated 9/21/17