Sable Permian Resources, LLC

Case No. 20-33193


Case Background

On June 25th, 2020 Sable Permian Resources, LLC and certain of its affiliates (“SPR”) announced today that, in order to facilitate a restructuring, SPR has filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Court”).

SPR is working with its advisors and stakeholders on a range of strategic alternatives that will maximize value for all stakeholders and position SPR for long-term success.

In conjunction with the commencement of its Chapter 11 proceedings, SPR has filed a number of customary first-day motions with the Court. These motions seek authorization for SPR to continue to operate in the normal course of business without interruption or disruption to its relationships with its royalty interest holders, working interest holders, joint billing partners, customers, suppliers, vendors and employees. SPR has solidified Debtor-in-Possession (“DIP”) financing of $150 million to finance the Company during the restructuring period. SPR expects to receive Court approval for these requests.

Below are links to Frequently Asked Questions (“FAQs”) that will address common questions regarding the restructuring process. SPR will continue to keep you informed as it moves through the restructuring process. If you should have any specific questions or concerns not addressed in the FAQs, please call our toll-free information hotline at (844) 627-8453 (US) or (929) 602-1722 (International).

Royalty Owner FAQs

Customer FAQs

Vendor FAQs

Important Information & Dates

A hearing on the Debtors' First Day Motions was held on June 26, 2020 at 11:00 a.m. (CT) before the Honorable Marvin Isgur, United States Bankruptcy Court for the Southern District of Texas, in Courtroom 404, 4th Floor, 515 Rusk Street, Houston, Texas 77002.  A final hearing on certain of the First Day Motions will be held on July 23, 2020 at 11:00 a.m. (CT). 

Please click below to view and download the Debtors' First Day Motions and Orders:

First Day Motions

First Day Orders


Dates

August 11 2020 Bid Procedures and Examiner Motion Hearing 2:00 p.m. (CT) Notice of Rese... Add to Calendar
October 13 2020 Sale Hearing 1:30 p.m. (CT) Sale Documents Add to Calendar
+ SHOW ALL DATES
June 25 2020 __
June 26 2020 11:00 a.m. (CT)
July 23 2020 11:00 a.m. (CT)
Final Hearing on Certain First Day Motions First Day Orders Add to Calendar
July 23 2020 3:30 p.m. (CT)
August 11 2020 2:00 p.m. (CT)
October 13 2020 1:30 p.m. (CT)

Parties

Debtors' Counsel

  • Latham & Watkins LLP (Los Angeles)

    355 South Grand Avenue
    Suite 100
    Los Angeles, CA   90071
    https://www.lw.com/
    Phone: 213.485.1234
    Fax: 213.891.8763

    Jeffrey E. Bjork

  • Latham & Watkins LLP (Chicago)

    330 North Wabash Avenue, Suite 2800
    Chicago, IL   60611
    https://www.lw.com/
    Phone: 312.876.7700
    Fax: 312.993-9667

    Caroline A. Reckler
    Jeramy D. Webb
    Brett V. Newman
    Jonathan C. Gordon

  • Latham & Watkins LLP (New York)

    885 Third Avenue
    New York, NY   10022
    https://www.lw.com/
    Phone: 212.906.1200
    Fax: 212.751.4864

    George A. Davis

  • Hunton Andrews Kurth LLP

    600 Travis Street, Suite 4200
    Houston, TX   77002
    https://www.huntonak.com/en/
    Phone: 713.220.4200
    Fax: 713.220.4285

    Timothy A. (“Tad”) Davidson II
    Joseph P. Rovira
    Ashley L. Harper

United States Trustee and Court Information

Debtors

Case Number Debtor Name Petition Date
Case Number 20-33193 Debtor Name Sable Permian Resources, LLC Petition Date June 25, 2020
Case Number 20-33195 Debtor Name SPR Stock Holdings, LLC Petition Date June 25, 2020
Case Number 20-33196 Debtor Name Sable Permian Resources Operating, LLC Petition Date June 25, 2020
Case Number 20-33197 Debtor Name SPR Holdings, LLC Petition Date June 25, 2020
Case Number 20-33198 Debtor Name SPRH Finance Corporation Petition Date June 25, 2020
Case Number 20-33199 Debtor Name Sable Permian Resources Corporation Petition Date June 25, 2020
Case Number 20-33200 Debtor Name Sable Permian Resources Finance, LLC Petition Date June 25, 2020
Case Number 20-33201 Debtor Name SPR Finance Corporation Petition Date June 25, 2020
Case Number 20-33202 Debtor Name Sable Land Company, LLC Petition Date June 25, 2020