White Marlin Oil and Gas closes acquisition of Dune Energy assets

Published Aug 5, 2015
White Marlin Oil and Gas Company, LLC

White Marlin Oil and Gas Company, LLC ('White Marlin') has closed the acquisition of certain properties from Dune Energy, Inc., Dune Operating Company, and Dune Properties, Inc. (collectively 'Dune') on July 27, 2015. The Dune assets were purchased in a sale pursuant to Section 363 of the United States Bankruptcy Code after Dune filed voluntary petitions for relief on March 8, 2015 under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Western District of Texas, Austin Division.

The closing of the asset sale followed the July 10, 2015 Bankruptcy Court Order approving the sale of certain Dune assets to White Marlin pursuant to the terms of the Purchase and Sale Agreement ('PSA') by and between Dune and White Marlin dated June 24, 2015. As described in the PSA, White Marlin purchased Dune's interests in the following 11 fields: Abbeville North, Bayou Couba, Chocolate Bayou, Comite, Lake Boeuf SW, Leeville, Los Mogotes, Malo Domingo, Manchester SW, Manchester W, and Toro Grande. Per the terms of the PSA, White Marlin paid $19 million for the assets. White Marlin estimates the assets were producing approximately 626 Boe/day net as of the July 1, 2015 effective date of the transaction.

Baker & McKenzie LLP represented White Marlin in the acquisition process.

Tags: Dune Energy Inc., LLC, White Marlin Oil and Gas Company


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