Former Moriah Powder River reviewing potential bids for assets

By Sarah Lizee

Olympia, Wash., Sept. 6 – US Realm Powder River LLC, formerly Moriah Powder River LLC, said it is currently reviewing two letters of interest from potential bidders for its assets, according to a status report filed Tuesday with the U.S. Bankruptcy Court for the District of Wyoming.

The company said other interested parties continue to execute non-disclosure agreements as well.

In the upcoming weeks, the debtor said it expects to move forward with one of the bidders toward a sale, either through a sale under section 363 of the bankruptcy code, a Chapter 11 plan, or a combination of those.

The company said it anticipates that creditors’ claims will be resolved, consensually, through payment following a sale and/or confirmation of a plan.

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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