Arsenal Energy Holdings has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 19-10226). According to the First Day Declaration, Arsenal, which is headquartered in Wexford, Pennsylvania, is a holding company that, through its non-Debtor subsidiaries, owns and operates 77 natural gas wells in the Appalachian Basin. According to a press release from the Debtors, the Debtors enter chapter 11 having already solicited votes on a prepackaged plan of reorganization, with 93% of its equity holders and 100% of its noteholders voting in favor of the plan. The Disclosure Statement can be found here. Prime Clerk is the proposed claims and noticing agent. The case has been assigned to the Honorable Brendan Linehan Shannon.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.