EdgeMarc Energy Gets OK For $50M Ohio Asset Sale In Ch. 11

Law360, Wilmington (August 28, 2019, 12:55 PM EDT) -- A Delaware bankruptcy judge on Wednesday approved the sale of bankrupt oil and gas producer EdgeMarc Energy's Ohio assets for $50 million to Diversified Gas & Oil Corp.

At a hearing in Wilmington, U.S. Bankruptcy Judge John T. Dorsey approved the sale of EdgeMarc's hydrocarbon assets in Washington and Monroe counties in Ohio to the Alabama-based stalking horse bidder

"Your honor, today is a very good day for the debtors," said EdgeMarc attorney Darren S. Klein of Davis Polk & Wardwell LLP. "We are extremely pleased with the result."

No other bids for the Ohio assets were received before a deadline,...

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