Norse Energy Gets Nod On Plan To Sell NY Drilling Rights

Law360, Wilmington (July 26, 2013, 10:00 PM EDT) -- A New York bankruptcy judge indicated Thursday that he would approve oil and gas producer Norse Energy Corp. USA's plan to sell some of its drilling rights to 130,000 acres of land in the state, as the company continues to wait through a state moratorium on hydraulic fracking.

Norse Energy hopes to sell enough of its 1,400 land-based assets — about 1,100 in Central New York and approximately 300 in the western part of the state — to pay off both a $3.8 million post-petition loan...
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