Harvest Oil debtors seek to extend reorganization plan effective date

By Lisa Kerner

Charlotte, N.C., Jan. 28 - Harvest Oil & Gas LLC, Saratoga Resources, Inc., the Harvest Group LLC, Lobo Operating, Inc. and Lobo Resources, Inc. filed a motion asking the court to extend the effective date of Harvest Oil's amended plan of reorganization, according to a filing with the Western District of Louisiana.

Most recently the date had been extended to Jan. 29 from Jan. 15.

The court vacated the confirmation order on Jan. 27 "due to the parties being unable to go effective with the consensual plan," the motion said.

In the motion, Harvest said it requested an extension "to either confirm the cramdown plan as may be further amended or, alternatively, work with the constituencies in the case who have expressed willingness to negotiate to confect a joint plan."

Previously, the court extended the effective date to Jan. 15 from Jan. 8 and, prior to that, to Jan. 8 from Dec. 31, the filing said.

Harvest is an Austin, Texas-based oil and gas exploration and production company. It filed for bankruptcy on March 31, 2009, and its Chapter 11 case number is 09-50397.

Saratoga, an Austin, Texas-based oil and gas exploration and production company, filed for bankruptcy on April 1, 2009. Its Chapter 11 case number is 09-50398.

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