July 27, 2016 9:56 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Century Exploration New Orleans, LLC

Company Overview

Century Exploration New Orleans, Inc. operates as an oil and gas exploration, development and operating company. The company develops prospects from 3-D seismic data base of over 10,000 square miles. The company is based in Metairie, Louisiana. Century Exploration New Orleans, Inc. operates as a subsidiary of RAAM Global Energy Company.

3838 North Causeway Boulevard

Suite 2800

Metairie, LA 70002

United States

Phone:

504-832-3750

Fax:

504-832-3760

Key Executives for Century Exploration New Orleans, LLC

Chief Operating Officer
Compensation as of Fiscal Year 2016.

Century Exploration New Orleans, LLC Key Developments

Motion for Asset Sale Approved for RAAM Global Energy Company

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of RAAM Global Energy Company on January 19, 2016. The debtor has been authorized to sell substantially all its assets to Highbridge Principal Strategies - Specialty Loan Fund III, L.P., Highbridge Specialty Loan Sector A Investment Fund, L.P., Highbridge Specialty Loan Institutional Holdings Limited, Highbridge Principal Strategies - Specialty Loan Institutional Fund III, L.P., Highbridge Principal Strategies - Specialty Loan VG Fund, L.P., Highbridge Principal Strategies – NDT Senior Loan Fund, L.P., Highbridge Principal Strategies - Jade Real Assets Fund, L.P., Highbridge Aiguilles Rouges Sector a Investment Fund, L.P., Lincoln Investment Solutions, Inc., and American United Life Insurance Company, the stalking horse bidder for a credit purchase price of $58.8 million, $2.5 million in cash and assumption of certain obligations.

Second Amended Liquidation Plan Approved for RAAM Global Energy Company

The US Bankruptcy Court approved the second amended plan of liquidation of RAAM Global Energy Company on January 19, 2016. The debtor has filed its second amended plan in the Court on December 20, 2015. As per the amended plan filed, General Administrative Claims, U.S. Trustee fees, statutory fees, priority tax claims, other priority claims and professional fee claims shall be paid in full in cash. First lien credit agreement claims and senior secured notes claims shall receive its pro rata share of cash from sale proceeds. Other secured claims shall receive either payment in full in cash or surrender of collateral or reinstatement of its allowed claims. Senior Secured Notes Deficiency Claims shall receive its pro rata share from the liquidating trust. Ace Claim shall receive cash payment of $1.15 million under the Ace settlement distribution from sale proceeds plus any amounts recovered from the liquidating trust. General unsecured trade claims shall receive its pro rata share of cash from liquidating trust and general unsecured non-trade claims shall receive no recovery under the plan. All the intercompany claims shall either be reinstated or cancelled. All the equity interests in RAAM shall be cancelled and shall receive no distribution under the plan and all the equity interests in RAAM debtor subsidiaries shall either be reinstated or cancelled and shall receive no distribution under the plan. The plan shall be funded from debtor’s cash in hand and proceeds from the sale of debtor’s assets.

Notice of Auction Filed by RAAM Global Energy Company

RAAM Global Energy Company filed a notice of auction in the US Bankruptcy Court on January 8, 2016. As per the notice filed, the debtor did not receive any qualified bids and the auction has been cancelled.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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