Maxus Seeks OK On $15M Sale Of Gulf Oil Field Interests

Law360, Wilmington (April 20, 2017, 4:55 PM EDT) -- Bankrupt oil and gas exploration firm Maxus Energy Corp. asked a Delaware court late Wednesday to approve a sale of its partial interest in a Gulf of Mexico offshore oil field as part of its effort to liquidate its assets through Chapter 11 transactions.

In a motion to sell its 15 percent non-operating working interest in the deepwater Neptune oil field in the Gulf of Mexico, Maxus said the proposed $15,350,000 purchase price achieved through an online auction was higher than the company initially predicted for...
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