Former Moriah Powder River gets more time to file plan, solicit votes

By Caroline Salls

Pittsburgh, March 17 – US Realm Powder River, LLC, formerly Moriah Powder River, LLC, obtained approval from the U.S. Bankruptcy Court for the District of Wyoming on Tuesday to extend its exclusive Chapter 11 plan-filing and vote-solicitation procedures.

US Realm’s exclusive plan-filing period was extended through May 28 from Feb. 28 and the solicitation period through Aug. 26 from April 28.

The company said exclusivity allows it a fair opportunity to formulate, confirm and complete a consensual Chapter 11 plan without interference from competing plans, “which can significantly increase administrative costs and may disrupt debtor’s business.”

In addition, US Realm said natural gas prices have fallen since it filed for bankruptcy, requiring the company to explore opportunities for future growth and attempt to renegotiate critical contracts and negotiate new ones.

Moriah Powder River is a Denver-based oil and natural gas exploration and production company. The company filed bankruptcy on Oct. 31 under Chapter 11 case number 19-20699.

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