Texas Gas Driller Approved For $115M Ch. 11 Asset Sale

By Vince Sullivan (September 11, 2020, 7:45 PM EDT) -- Six months after a deal to sell its assets for $192 million fell apart due to the cratering of energy commodity prices, Texas gas driller Approach Resources Inc. received tentative court approval Friday for a $115 million transaction with a new buyer.

During a virtual hearing, debtor attorney David M. Bennett of Thompson & Knight LLP said the journey toward a sale had been a bumpy ride but he was happy to be before the court with a transaction that had the support of its secured lenders.

"I'm happy to report that we have, after a somewhat circuitous route, a buyer...

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