Endeavour Announces Accelerated Schedule for Chapter 11 Hearings

By Darryl L. Flowers | Posted: Tuesday, November 18, 2014 3:02 pm

Endeavour International Corporation announced last week an accelerated timetable for its Chapter 11 proceedings.  The Company anticipates scheduling the following hearing dates with the United States Bankruptcy Court for the District of Delaware:

• A hearing to be held on December 17, 2014, for the purpose of obtaining the Bankruptcy Court’s approval of the Disclosure Statement to be filed by the Company in connection with the Company’s proposed Plan of Reorganization (the “Plan”) (each of which will be filed by the Company consistent with the terms of the Restructuring Support Agreement previously announced by the Company).

• A hearing to be held on February 3, 2015, for the purpose of obtaining confirmation by the Bankruptcy Court of the Plan.

The Company also announced that William L. Transier requested that the Board of Directors accept his resignation as President and Chief Executive Officer of the Company, effective December 1, 2014, which request was accepted. Mr. Transier will continue as Chairman of the Board of the Company.

Endeavour International Corporation is based in Houston, Texas and has offices in the United Kingdom and Denver, Colorado.

Founded in 2004, the company entered the Montana oil and gas play in in 2010 when it launched the onshore U.S. initiative with acquisitions of production and significant unconventional oil and gas drilling, as well as opened a Denver operations office. Endeavor’s initial focus was in the United Kingdom and the Norwegian North Sea.

According to the company website, Endeavour holds 244,000 gross acres, or 39,900 net acres, in the Treasure State.

According to the Montana Board of Oil and Gas Conservation database, the firm has two drilled wells in Montana, both in Garfield County.

The Cherry Creek  34-14-37 #1 was drilled to a total depth of 5,580 feet in 2011, reaching the Otter Formation. The last activity on the well was a filing in July of last year, notifying the Board of Oil and Gas of the company’s intention to perforate the well.

Also in 2011, the company drilled the State  16-13-35 #1. In 2013, the company notified the board of its intention to abandon the well. The well has a total depth of 4,800 feet, reaching the Heath formation.

Neither of the wells have any record of production.

By Darryl L. Flowers | Posted: Tuesday, November 18, 2014 3:02 pm

Endeavour International Corporation announced last week an accelerated timetable for its Chapter 11 proceedings.  The Company anticipates scheduling the following hearing dates with the United States Bankruptcy Court for the District of Delaware:

• A hearing to be held on December 17, 2014, for the purpose of obtaining the Bankruptcy Court’s approval of the Disclosure Statement to be filed by the Company in connection with the Company’s proposed Plan of Reorganization (the “Plan”) (each of which will be filed by the Company consistent with the terms of the Restructuring Support Agreement previously announced by the Company).

• A hearing to be held on February 3, 2015, for the purpose of obtaining confirmation by the Bankruptcy Court of the Plan.

The Company also announced that William L. Transier requested that the Board of Directors accept his resignation as President and Chief Executive Officer of the Company, effective December 1, 2014, which request was accepted. Mr. Transier will continue as Chairman of the Board of the Company.

Endeavour International Corporation is based in Houston, Texas and has offices in the United Kingdom and Denver, Colorado.

Founded in 2004, the company entered the Montana oil and gas play in in 2010 when it launched the onshore U.S. initiative with acquisitions of production and significant unconventional oil and gas drilling, as well as opened a Denver operations office. Endeavor’s initial focus was in the United Kingdom and the Norwegian North Sea.

According to the company website, Endeavour holds 244,000 gross acres, or 39,900 net acres, in the Treasure State.

According to the Montana Board of Oil and Gas Conservation database, the firm has two drilled wells in Montana, both in Garfield County.

The Cherry Creek  34-14-37 #1 was drilled to a total depth of 5,580 feet in 2011, reaching the Otter Formation. The last activity on the well was a filing in July of last year, notifying the Board of Oil and Gas of the company’s intention to perforate the well.

Also in 2011, the company drilled the State  16-13-35 #1. In 2013, the company notified the board of its intention to abandon the well. The well has a total depth of 4,800 feet, reaching the Heath formation.

Neither of the wells have any record of production.

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Author: montanaoilreport

After my first job at a newspaper -- delivering papers for the Jackson (TN) Sun, ink was in my veins. Since the 1970's I've worked in every area of the Printing and Publishing industry, with most of that time spent in the pressroom. In 2008 I moved to Montana and purchased the Sun Times of Fairfield (fairfieldsuntimes.com). In 2011 I realized that most media outlets were either ignoring, or attacking, the growing oil and gas industry in Montana, so I started the Montana Oil Report as the source of information on this important industry.

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