Approach Resources seeks sixth extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Oct. 29 – Approach Resources, Inc. is seeking a sixth extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

Specifically, the company is asking the court to extend the exclusive plan-filing period through Nov. 27 and the solicitation period through Jan. 27.

The company said it is in the final stages of negotiating the terms of a liquidating plan of reorganization with its secured lenders.

Once finalized, the debtors will file their liquidating plan of reorganization and seek to have a confirmation hearing set before year-end.

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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