Dune Energy wins court approval to sell two sets of gas field assets

By Caroline Salls

Pittsburgh, July 13 – Dune Energy, Inc. received court approval to sell packages of its assets to White Marlin Oil & Gas Co. and Trimont Energy (NOW), LLC, according to orders filed Friday with the U.S. Bankruptcy Court for the Western District of Texas.

As previously reported, Trimont agreed to purchase the company’s Garden Island Bay field and Bateman Lake field for $1 and to assume real estate tax liabilities. White Marlin agreed to purchase most of the company’s remaining oil and gas fields for $19 million.

Trimont was declared the backup successful bidder at $16 million for all of the oil and gas fields held for sale in the event the sale to White Marlin fails to close.

Dune is a Houston-based energy company that filed for bankruptcy on March 9. The Chapter 11 case number is 15-10336.

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