Rosehill Resources disclosure statement approved; plan hearing Aug. 28

By Caroline Salls

Pittsburgh, July 28 – Rosehill Resources Inc. obtained conditional approval of the disclosure statement for its pre-packaged plan of reorganization, according to an order filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.

A combined plan confirmation and final disclosure statement approval hearing is scheduled for Aug. 28.

As previously reported, Rosehill entered into a restructuring support agreement with the lenders under its revolving first-lien credit facility and second-lien notes, series B preferred stock and equityholder and tax receivable agreement party Tema Oil and Gas Co.

Following the plan effective date, Rosehill’s equity will be owned solely by the consenting creditors and holders of preferred stock.

Holders of general unsecured claims, including trade creditors and vendors, will pass through the Chapter 11 cases with their claims unimpaired by the bankruptcy and be satisfied in full.

Also under the plan, Rosehill Resources’ class A common stock and other common equity securities will be extinguished.

Rosehill Resources is a Houston-based oil and gas company. The company filed bankruptcy on July 26 under Chapter 11 case number 20-33695.

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