Tri-Point Oil & Gas looks to extend DIP loan maturity date to July 3

By Caroline Salls

Pittsburgh, June 8 – Tri-Point Oil & Gas Production Systems, LLC requested court approval to amend its debtor-in-possession financing agreement, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

Specifically, the proposed amendment extends the maturity date of the DIP financing to July 3.

In addition, the amount of a pre-trigger-date professional fee carve out was reduced to $1.74 million, minus the amount of any fees actually paid to covered professionals after Tri-Point’s bankruptcy filing date.

Houston-based Tri-Point, through its subsidiaries, provides surface production solutions and process equipment and services to customers in North America. The company filed bankruptcy on March 16 under Chapter 11 case number 20-31777.

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