Ursa Piceance gets approval to sell assets to Terra for $60 million

By Sarah Lizee

Olympia, Wash., Nov. 23 – Ursa Piceance Holdings LLC received court approval to sell substantially all of its assets to Terra Energy Partners LLC for $60 million, according to an order filed Monday in the U.S. Bankruptcy Court for the District of Delaware.

Ursa and Terra entered into the purchase and sale agreement on Nov. 10.

As part of the consideration for the assets, Terra will assume some purchaser obligations.

Ursa is a Denver-based private energy company engaged in the development and production of oil and gas in the Piceance Basin, principally in rural areas of Western Colorado. The company filed bankruptcy on Sept. 2 under Chapter 11 case number 20-12065.

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