Nine Point Energy Gets OK For $20M DIP Loan, June Auction

Law360 (April 12, 2021, 1:36 PM EDT) -- Colorado-based oil and gas company Nine Point Energy got approval Monday for its Chapter 11 financing and auction process after telling a Delaware bankruptcy judge it had reached a compromise with creditors who said the sale was moving too fast.

Pumpjacks work in a field near Lovington, New Mexico. On Monday, oil and gas company Nine Point Energy got the green light for its Chapter 11 financing and auction process. (AP Photo/Charlie Riedel) At a brief virtual hearing, U.S. Bankruptcy Judge Mary Walrath approved Nine Point's debtor-in-possession financing and asset sale procedures after Nine Point's counsel said talks with shareholders and...

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