Despite a litigious history between them, New Gulf Resources and Energy & Exploration Partners LLC (ENXP) recently worked out a settlement agreement pertaining to their joint operating agreements related to exploration and production operations in East Texas. After negotiating the settlement agreement, the two companies filed the agreement in their respective Chapter 11 bankruptcies seeking court approval.
Judge Brendan Linehan Shannon is the chief U.S. bankruptcy judge presiding over New Gulf’s Chapter 11 case in the U.S. Bankruptcy Court for the District of Delaware. Likewise, ENXP is currently involved in its own Chapter 11 case in the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division. U.S. Bankruptcy Judge Russell Nelms is presiding over ENXP’s bankruptcy.
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