Judge OKs Bankrupt Gas Co.'s $29M Asset Sale

Law360, New York (July 9, 2009, 12:00 AM EDT) -- A bankruptcy judge has approved a $29.3 million sale of assets of bankrupt Houston-based natural gas exploration company CDX Gas LLC to EnerVest Energy Institutional Fund LP.

Judge Lettia Z. Paul of the U.S. Bankruptcy Court for the Southern District of Texas blessed the deal Thursday, saying that CDX represented that the deal was negotiated at arm's length and in good faith.

The deal includes certain assets owned by CDX Gas and all of the assets of CDX Barnett LLC and CDX Shale LLC. The sale...
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