Intervention Energy Files For Bankruptcy in Delaware

On May 20, 2016 Intervention Energy and certain of its affiliates (collectively, “Intervention” or the “Debtors”) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware.According to the declaration of Intervention’s President, John R. Zimmerman (the “Zimmerman Declaration”), the Debtors primarily engage in the exploration and production of oil and natural gas primarily in North Dakota.  Debtors have interests in approximately 600 producing wells across the Bakken formation.  Debtors’ liabilities total approximately $140 million owed pursuant to a 2012 Note Purchase Agreement with EIG Management Company, LLC, as administrative agent.  See Zimmerman Declaration at 9-11 and 23-26.The Debtors are seeking to have their bankruptcy cases jointly administered under the lead bankruptcy case In re Intervention Energy Holdings, LLC., et al., Case No. 16-11247.A copy of the Zimmerman Declaration can be accessed here: Download Zimmerman 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/.