Memorial Production gets final court approval to use cash collateral

By Caroline Salls

Pittsburgh, Feb. 8 – Memorial Production Partners, LP received final court approval to use the cash collateral of its pre-bankruptcy secured parties on a limited basis, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company said the cash collateral will be used for working capital and general corporate purposes, as well as to pay the costs and expenses of administering its estate.

The cash collateral use is scheduled to expire on April 16.

Memorial is focused on the acquisition, production and development of oil and natural gas properties in the United States. The Houston-based company filed bankruptcy on Jan. 16 under Chapter 11 case number 17-30262.

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