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February 2020

Vol. 25, No.07 Week of February 16, 2020

Furie sale hearing moves again Omnibus adjourned until Feb. 19

Steve Sutherlin

Petroleum News

The sale hearing on the assets of Furie Operating Alaska LLC, in its Chapter 11 bankruptcy case, has been adjourned to Feb. 19, 2020, at 2 p.m. before U.S. Bankruptcy Judge Laurie Selber Silverstein in the United States Bankruptcy Court for the District of Delaware.

HEX LLC, 100% owned by member manager John L. Hendrix of Anchorage, was the successful bidder for the Furie assets, primarily the Cook Inlet Kitchen Lights offshore unit, and related infrastructure such as the Julius R offshore platform, onshore processing facility and related pipelines.

The sale hearing was part of an omnibus hearing previously set for Feb. 11. The sale hearing was originally scheduled for Nov. 20, under a bidding procedures order signed Sept. 26 by Selber Silverstein. The hearing was moved to Jan. 13, then to Jan. 27, prior to being set for the February date.

Most of the matters to heard in the omnibus hearing have been adjourned to Feb. 19 as well.

CISPRI motion moves forward

One matter went forward at the Feb. 11 hearing: A motion by Cook Inlet Spill Prevention and Response Inc. over an arbitration provision in the Uniform Time Charter Party for Off-Shore Supply and Support Services between CISPRI and the debtor.

The matter involved an allocation of fault arbitration begun prepetition in July 2019 against Furie, due to the injury of a CISPRI employee on Furie’s gas production platform.

Selber Silverstein issued CISPRI’s requested Order Granting Relief from the Automatic Stay to Continue the Pending Arbitration, with conditions.

“For today’s purposes, what I’m going to do is grant relief from the stay so that the arbitrator can decide the issues that are fully briefed in front of him or her, and I’m going to hold this motion open with respect to the remainder of the relief for a period of 75 days, and then we’ll revisit it,” Selber Silverstein said in issuing the order.

- STEVE SUTHERLIN






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