On December 7, 2015, Energy & Exploration Partners, Inc. and its affiliates (collectively, the “Debtors”) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division. The Debtors’ voluntary filing is in response to an involuntary bankruptcy petition filed by certain trade creditors and seeks to convert the Nov. 25th involuntary bankruptcy filing against the Debtors into a voluntary Chapter 11 case.According to the declaration of the Debtors’ Interim Chief Financial Officer, John R. Castellano (the “Castellano Declaration”), the Debtor’s operations have been focused on the acquisition, exploration, development and exploitation of conventional and unconventional oil and natural gas resources. The Debtors’ primary assets are oil and gas leases in East Texas. Debtors own approximately 61,323 net acres2 in Texas and Wyoming. The Texas operations are located throughout Madison, Grimes, Leon, Houston and Walker Counties in the Buda-Rose stacked comingled play, the Woodbine sandstone, the Eagle Ford shale and other stacked formations in the region (collectively the “East Texas Basin”). The Wyoming properties are located in the Denver-Julesburg Basin which is situated in Silo Field in Laramie County and the deepest parts of the basin in Goshen County in Wyoming. As of September 30, 2015, the Debtors had total estimated proved reserves of 30,117 MBoe, 12,657 MBoe were developed and 17,460 MBoe were undeveloped. See Castellano Declaration 8-10.The Debtors’ indebtedness includes $775 million owed (as of July 22, 2014) on account of a senior secured term loan agreement with Credit Suisse AG, Cayman Islands Branch, as Administrative Agent plus certain lenders, $375 million owed and outstanding in Convertible Notes to several lenders, and $23.3 million to Chesapeake Exploration L.L.C. See Castellano Declaration 19-23.The Debtors’ bankruptcy cases are being jointly administered in the bankruptcy case captioned In re Energy & Exploration Partners, Inc., Case No. 15-44931.A copy of the Castellano Declaration can be accessed here: Download Castellano Declaration.For further information, please contact a Thompson & Knight Bankruptcy and Restructuring Attorney. For more information on the Thompson & Knight’s Bankruptcy and Restructuring Practice, please visit www.tklaw.com/bankruptcy-and-restructuring/.