New Delaware Chapter 11 Filing – Chieftain Sand and Proppant, LLC

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Chieftain Sand and Proppant, LLC, a producer of hydraulic fracturing sand, and one affiliate, have filed voluntary petitions for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Lead Case No. 17-10064 KG) .  According to the First Day Declaration, the demand in frac sand decreased drastically due to the recent petroleum recession and contributed to the commencement of these cases. The petition lists between $1 million and $10 million in assets and between $50 million and $100 million in liabilities.  According to the First Day Declaration, the company enters chapter 11 with  the goal to conduct a section 363 sale.  Energy Capital Partners Mezzanine Opportunities, LP, one of its pre-petition secured lenders, will provide DIP financing and serve as the stalking horse.   Donlin, Recano & Company, Inc. is the proposed claims agent. The cases have been assigned to the Honorable Kevin Gross.


Contact Norman L. Pernick and  Nicholas J. Brannick for more information.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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