Fri 02/04/2022 15:22 PM
Relevant Document:
Voluntary Petition
Tilden Marcellus LLC, a Canonsburg, Pa.-based oil and gas company, filed for chapter 11 protection today in the Bankruptcy Court for the Western District of Pennsylvania. The company reports $10 million to $50 million in both assets and liabilities. The debtor is represented by Morris Nichols as counsel, Tucker Arensberg as local counsel and Petrie Partners Securities as investment banker. G2 Capital Advisors managing director Jeffrey Varsalone is serving as CRO. Epiq is the claims agent. The case number is 22-20212.
Board resolutions attached to the petition authorize the debtor to obtain $4.4 million in new money DIP financing.
The debtor’s list of 20 largest unsecured creditors is led by UGI Texas Creek LLC with a $3.2 million trade claim, followed by Patterson-UTI Drilling Company LLC and Principle Enterprises LLC with trade claims of $1 million and $693,835, respectively.
Tilden Marcellus Holdings LLC holds 100% of the debtor’s equity.
Reorg First Day is monitoring this case and will provide further coverage as appropriate.
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