TXCO Creditors Show Support For Anadarko Bid

Law360, New York (January 7, 2010, 2:10 PM EST) -- Unsecured creditors of TXCO Resources Inc. have asked that a judge modify procedures for auctioning off the bankrupt oil company to make it easier for Anadarko Petroleum Corp. to prevail over stalking horse bidder Newfield Exploration Co.

The official committee of unsecured creditors in the case filed a joinder motion to Anadarko's modification request on Wednesday in the U.S. Bankruptcy Court for the Western District of Texas, noting that unsecured creditors would make out much better under the Anadarko proposal than the Newfield proposal.

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