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Latham & Watkins Advises Sundance Energy in Successful Emergence from Chapter 11 Process

April 29, 2021
Multidisciplinary team advised the onshore independent oil and natural gas company in the complex transaction.

Sundance Energy Inc. and its affiliates (Sundance), an onshore independent oil and natural gas company focused on the development of large, repeatable resource plays in North America, announced that it that it has successfully completed its financial restructuring and implemented its prepackaged plan of reorganization (Prepackaged Plan), which was confirmed by the US Bankruptcy Court for the Southern District of Texas on April 19, 2021. Sundance has emerged from Chapter 11 protection in a strengthened financial position having eliminated over US$250 million of funded debt obligations. Unsecured trade creditors will be paid in full in accordance with the Prepackaged Plan.

Latham & Watkins LLP represented Sundance Energy Inc. in the transaction. The team was led by New York restructuring and special situations partner David Hammerman, Houston corporate partner David Miller and New York restructuring and special situations counsel Annemarie Reilly. The restructuring and special situations team included New York partner Keith Simon and New York associates Jeffrey Mispagel, Misha Ross, and Brian Rosen, Chicago associates Jonathan Gordon and Gabe Pugel and Washington, D.C. associate Mohini Rarrick. The corporate team included Houston partner John Greer and Houston associates Madeleine Neet, Ricardo Alvarado, and Matt Cannon. The finance team was led by Houston partner Pamela Kellet and Houston counsel Bryce Kaufman, with Houston associates Brian Flynn and Whitley Johnson.

Advice was also provided on tax matters by Houston partners Bryant Lee and Jim Cole, with Houston associates Michael Rowe, Dominick Constantino, and Chelsea Muñoz-Patchen; on environmental matters by Los Angeles counsel Joshua Marnitz, with Washington, D.C. associate Jacqueline Yap; on benefits and compensation matters by Los Angeles partner Michelle Carpenter; on hedging and derivatives matters by New York partner Yvette Valdez, with New York associates Ashley Weeks and Adam Fovent; and on oil and gas matters by Houston partner Mike King, with Houston associate Alice Parker; and on litigation matters by Los Angeles partner Michael Reiss, with Century City associate Robert Allen.