Houston oil and gas explorer Halcón Resources filed for Chapter 11 bankruptcy a second time – and went with the same law firm it did the last go around.
Weil Gotshal & Manges is counseling the oil and gas explorer with a team led out of New York and Houston, including Houston partner Alfredo Perez.
Others in Weil’s Texas offices working on the bankruptcy were Houston associates Patrick Thompson, Justin Pitcher and Clifford Carlson on the business, financing and restructuring side; Dallas partner Courtney Marcus and associates Matthew Berde and Daniela Gutierrez on banking and finance matters; Dallas associate Scott Bailey on corporate issues; and Dallas associate Mary Sommers on tax.
Perella Weinburg Partners and Tudor Pickering Holt & Co. were Halcón’s financial advisers and FTI Consulting Inc. was its restructuring adviser.
Ducera Partners assisted the unsecured noteholders with Paul, Weiss, Rifkind, Wharton & Garrison providing legal advice.
Halcón has been shedding assets to try to stay afloat since its 2016 bankruptcy filing.
Halcón chief legal officer David Elkouri hired Thompson & Knight partners Hunter White and associate Kelli Sims to represent the company on its 2017 sale of 104,000 net acres of oil and gas properties in North Dakota to ArcLight Capital Partners for $1.4 billion.
Later that year the company shed its remaining non-operated properties in the Rockies’ Bakken Shale to an unnamed buyer for $104 million. Elkouri, associate general Kason Kerr and corporate counsel Jason Payne did most of the heavy lifting with assistance from T&K’s White. Kerr is now general counsel at Ultra Petroleum while Payne is general counsel at Riverbend Oil & Gas.
And this past fall, the company agreed to sell all of its water infrastructure assets across the Delaware Basin to Five Point Energy-backed WaterBridge Resources for $200 million. Elkouri and Kerr worked on that deal with Bracewell providing outside legal counsel, including partner Cle Dade and associate Lytch Gutman.
For more on Halcón’s bankruptcy, check out the story at the Houston Chronicle, a partner of The Texas Lawbook.