Mon 03/15/2021 12:01 PM
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Relevant Document:
Voluntary Petition

Nine Point Energy Holdings, Inc., a Denver-based private E&P company focused on the Williston Basin, filed for chapter 11 protection today in the Bankruptcy Court for the District of Delaware, along with affiliate Foxtrot Resources LLC. The company reports $100 million to $500 million in both assets and liabilities. The debtors are represented by Latham & Watkins and Young Conaway Stargatt & Taylor as co-counsel, AlixPartners as financial advisor and Perella Weinberg as investment banker. The debtors are also working with Lyons Benenson & Company as consultant and Stretto as claims agent. The case number is 21-10570. The case has been assigned to Judge Mary F. Walrath. For access to the relevant documents above as well as our First Day by Reorg team's coverage of all U.S. chapter 11 cases filed since 2012 with over $10 million in liabilities including the Nine Point Energy chapter 11 filing Request a Trial here.

Board resolutions attached to the petition authorize entry into DIP financing and sale arrangements, citing a DIP term sheet between the debtors and AB Private Credit Investors as DIP agent and a stalking horse term sheet setting forth terms of a proposed sale transaction “pursuant to a credit bid by the DIP Lenders and the Company’s lenders.”

Nine Point’s top five unsecured creditors are listed below:
Nine Point’s top five unsecured creditors

The company’s top four equityholders are shown below:
Nine Point's top four equity holders

A complete list of the debtors’ equityholders can be viewed HERE.

Reorg First Day will provide a full summary once the first day briefing is complete.
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