Former Moriah Powder River seeks dismissal of Chapter 11 case

By Sarah Lizee

Olympia, Wash., Feb. 16 – US Realm Powder River LLC, formerly Moriah Powder River LLC, is seeking dismissal of its Chapter 11 bankruptcy case, according to a motion filed Monday with the U.S. Bankruptcy Court for the District of Wyoming.

The company said that issues necessitating the bankruptcy filing in the first instance are resolved and the continuation of the Chapter 11 reorganization is no longer in the best interests of the debtor or its creditors given the expense involved for all parties.

The debtor said it continues to incur attorneys’ fees and other administrative fees and costs in bankruptcy while the original purpose of obtaining the benefit of the automatic stay no longer exists.

Further, the company said its remaining disputes with creditors and royalty interest holders can be litigated and resolved outside the bankruptcy context.

US Realm said it can return to operations without the assistance of the court and without the threat of shut-in of its wells.

A hearing is scheduled for March 16.

Moriah Powder River is a Denver-based oil and natural gas exploration and production company. The company filed bankruptcy on Oct. 31, 2019 under Chapter 11 case number 19-20699.

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