Rockall Energy Gets OK for $85 Million Ch. 11 Sale Plan

By Rick Archer (May 31, 2022, 6:43 p.m. EDT) — A Texas bankruptcy judge on Tuesday approved oil and gas driller Rockall Energy Holdings’ plan to end its bankruptcy case by selling its assets to the equity fund- Formentera Partners investment for $85 million for the benefit of its creditors.

At a hearing in Fort Worth, U.S. Bankruptcy Judge Mark Mullin overruled the U.S. Trustee’s Office objections to the Chapter 11 plan’s liability release provisions to approve the sale of Rockall and the plan, fulfilling what the Debtor’s attorney said their goal is a confirmation within 90 days of filing for bankruptcy.

Rockall, which was founded in 2018 and produces over…

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