Gas Driller Ursa Piceance's $60M Ch. 11 Sale Approved In Del.

Law360 (November 19, 2020, 3:39 PM EST) -- A Delaware judge on Thursday approved the $60 million Chapter 11 sale of Colorado-based natural gas driller Ursa Piceance Holdings LLC to Texas-based oil and gas company Terra Energy Partners LLC.

During a hearing held virtually, U.S. Bankruptcy Judge Brendan L. Shannon gave his nod to the sale, saying the debtors demonstrated that the sale process was run in good faith and that they used their best business judgment in selecting the buyer.

Ursa's attorney David Kronenberg of Sidley Austin LLPs told the judge the debtors reached out to about 95 potential buyers, and after an auction earlier this month, Terra...

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