July 10, 2019
Bankrupt oil and gas driller Elk Petroleum Inc. told a Delaware bankruptcy court judge Wednesday that objections from equity holders to its proposed post-petition financing were rooted in a misunderstanding of the value of the debtor's assets and not on any substantive grounds.
June 19, 2019
The U.S. Trustee appointed three investor entities that are suing Elk Petroleum Inc. in Chancery Court to the Committee of Preferred Equity Security Holders in Elk's bankruptcy case in Delaware on Wednesday, giving them a voice in the company's reorganization.
June 18, 2019
Elk Petroleum Inc. will continue to draw on $4 million in interim debtor-in-possession financing as parties that have raised issues with the oil and gas company's Chapter 11 declared a temporary "cease-fire" Tuesday to attempt to reach a resolution.
June 14, 2019
Stockholders who already filed suit over a stock-to-debt conversion prior to Elk Petroleum Inc.'s Chapter 11 are now taking aim at Elk's proposal for up to $10 million in post-petition financing, telling the Delaware bankruptcy court the financing has flawed terms and may not even be needed.
May 23, 2019
Elk Petroleum Inc. and three affiliates sought Chapter 11 protection in Delaware late Wednesday, proposing a reorganization of some $270 million in secured and unsecured debt under a private equity-led plan approved by two secured debtor groups one day earlier.