Extraction Oil Can Proceed With Nix Of Pipeline Deal In Ch. 11

By Vince Sullivan (December 7, 2020, 7:29 PM EST) -- The owner of a Colorado pipeline lost its bid Monday to stay an order allowing bankrupt energy exploration company Extraction Oil & Gas Inc. to reject a transportation services agreement, with a Delaware federal judge saying it likely won't succeed on its appeal of the order.

In an opinion from U.S. District Court Judge Colm F. Connolly, the court said Platte River Midstream LLC was unlikely to win its appeal of the bankruptcy court order allowing Extraction to escape the onerous minimum oil requirements contract it signed with Platte River because the agreement did not create a binding covenant that runs...

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