“Texas Gas Driller Approved For $115M Ch. 11 Asset Sale”
Six months after a deal to sell its assets for $192 million fell apart due to the cratering of energy commodity prices, Texas gas driller Approach Resources Inc. received tentative court approval Friday for a $115 million transaction with a new buyer.
During a virtual hearing, debtor attorney David M. Bennett of Thompson & Knight LLP said the journey toward a sale had been a bumpy ride but he was happy to be before the court with a transaction that had the support of its secured lenders.
…Approach is represented by David M. Bennett, Demetra L. Liggins and Anthony F. Pirraglia of Thompson & Knight LLP.