Anchorage based Hex LLC is progressing - under a new name - with its planned purchase to acquire the assets and existing equity interests of Chapter 11 debtor Furie Operating Alaska LLC and related debtor companies - Cornucopia Oil & Gas Company LLC and Corsair Oil & Gas LLC.
A plan supplement to the second amended joint plan of reorganization was filed May 29 in the U.S. Bankruptcy Court for the District of Delaware.
The supplement - subject to the approval of all parties - includes loan documents for Hex's proposed Alaska Industrial Development and Export Authority purchase financing, and other documents.
The sale, which is scheduled to close at the end of June, will take place as a private sale foreclosure.
Hex has elected to complete the foreclosure sale through HEX Cook Inlet LLC, an Alaska limited liability company formed May 11, owned 80% by Hex and 20% by Rogue Wave AK LLC.
The assets consist primarily of the Cook Inlet Kitchen Lights offshore unit, and related infrastructure such as the Julius R offshore platform, onshore processing facility and all related pipelines. The unit lies offshore the town of Nikiski on the Kenai Peninsula.
–STEVE SUTHERLIN
See full story in June 7 issue, available online Friday, June 5 at www.PetroleumNews.com
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