Kingfisher Midstream, LLC

Case No. 20-30218


Case Background

On January 12, 2020, Kingfisher Midstream, LLC, Kingfisher STACK Oil Pipeline, LLC, Oklahoma Produced Water Solutions, LLC, and Cimarron Express Pipeline, LLC (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. The cases are pending before the Honorable Marvin Isgur, and are jointly administred under Case No. 19-35133.

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Important Information & Dates

Plan and Disclosure Statement

On April 22, 2020, the Debtors filed their Amended Joint Chapter Plan and the Disclosure Statement related thereto.  The Bankruptcy Court will hold a combined hearing to consider approval of the Disclosure Statement and confirmation of the Plan on May 27, 2020 at 9:00 a.m. (CT).  Click on the "Plan and Disclosure Statement" link at the left of this page to view Plan and Disclosure Statement related documents.

Sale Process

On September 11, 2019, Alta Mesa Resources Inc. and certain of its affiliates (collectively, the “AMH Debtors”),  which are affiliates of Kingfisher Midstream, LLC, filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”).  The AMH Debtors’ cases are jointly administered under the caption In re Alta Mesa Resources, Inc., et al., Case No. 19-35133 (MI) (collectively, the “AMH Chapter 11 Cases”).  (To view the docket of the AMH Chapter 11 Cases, click here.)  Shortly thereafter, the AMH Debtors filed a motion seeking to, among other things, sell all or substantially all or any portion of their assets (the “AMH Assets”) and, subject to the consent of Kingfisher Midstream, LLC and three of its subsidiaries, Kingfisher STACK Oil Pipeline, LLC, Oklahoma Produced Water Solutions, LLC, and Cimarron Express Pipeline, LLC (collectively, “Kingfisher” or the “Company”), Kingfishers' assets (the “KFM Assets,” and together with the AMH Assets, the “Assets”).

On October 11, 2019, the Bankruptcy Court entered an order in the AMH Chapter 11 Cases [Docket No. 317] (the “AMH Bidding Procedures Order”) approving, among other things, the auction and bidding procedures, pursuant to which the AMH Debtors will solicit and select the highest or otherwise best offer for the sale of the AMH Assets. Amended versions of the AMH Bidding Procedures Order were entered on December 10, 2019 and December 19, 2019 [Docket Nos. 636 and 666].

As a result of the efforts of Kingfisher and the AMH Debtors, on December 31, 2019, Kingfisher entered into that certain Purchase and Sale Agreement (the “KFM Stalking Horse PSA”), to sell substantially all of the KFM Assets to BCE-Mach III LLC (the “Stalking Horse Bidder”), and the AMH Debtors entered into a separate Purchase and Sale Agreement click here.)

The KFM Stalking Horse PSA contemplates that the sale of the KFM Assets will be implemented through proceedings commenced under chapter 11 of the Bankruptcy Code.  In the event that such chapter 11 proceedings are authorized by the applicable governing bodies of the Company, Kingfisher expects to file voluntary petitions for relief under chapter 11 of the Bankruptcy Code with the Bankruptcy Court.  Subject to approval by the Bankruptcy Court and in accordance with the terms of the KFM Stalking Horse PSA, Kingfisher anticipates selling its assets to the Stalking Horse Bidder or a successful alternative bidder pursuant to a sale under sections 363 and 365 of the Bankruptcy Code.  Below are dates relevant to this sale. These dates are substantially consistent with dates and deadlines established in the AMH Bidding Procedures Order, as amended. Promptly after commencing chapter 11 cases, Kingfisher will seek to have such dates and deadlines approved by the Bankruptcy Court pursuant to the KFM Bidding Procedures Order.

To obtain additional information on this sale, please click here.


Dates

May 27 2020 Combined Plan and Disclosure Statement Hearing 9:00 a.m. (CST) Plan & Disclos... Add to Calendar
+ SHOW ALL DATES
January 8 2020 5:00 p.m. (CT)
Bid Deadline Add to Calendar
January 12 2020 -
January 15 2020 9:00 a.m. (CT)
Auction Add to Calendar
January 21 2020 2:00 p.m. (CT)
Sale Hearing Add to Calendar
May 27 2020 9:00 a.m. (CST)
Combined Plan and Disclosure Statement Hearing Plan & Disclosure Statement Add to Calendar

Parties

Kingfisher's Counsel

  • Weil, Gotshal & Manges LLP

    767 Fifth Avenue
    New York, NY   10153
    https://www.weil.com/
    Phone: 212.310.8000
    Fax: 212.310.8007

    Ray C. Schrock
    Kelly DiBlasi
    Lauren Tauro