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Approach Resources plan milestones extended again by DIP lenders
By Sarah Lizee
Olympia, Wash., Sept. 29 – Approach Resources, Inc.’s debtor-in-possession financing lenders have agreed to extend several Chapter 11 plan milestones, according to a notice filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.
Under the extended milestones, Approach must file a plan by Oct. 6, extended from Aug. 12, obtain court approval of the disclosure statement by Oct. 20, pushed back from Aug. 19, and secure confirmation of the plan by Dec. 4, extended from Sept. 18.
The plan must take effect no later than Dec. 18, pushed back from the previous deadline of Oct. 2.
Approach Resources is a Fort Worth-based oil and gas company. The company filed bankruptcy on Nov. 18, 2019 under Chapter 11 case number 19-36444.
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