December 06, 2016 9:17 AM ET

Oil, Gas and Consumable Fuels

Company Overview of TransCoastal Corporation

Company Overview

TransCoastal Corporation, an energy development company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. It holds interests in approximately 100 acquired or divested wells; and 200 undeveloped locations covering an area of approximately 6000 acres of leased oil and gas property located primarily in the panhandle area of west Texas. The company was founded in 1998 and is based in Dallas, Texas.

4975 Voyager Drive

Dallas, TX 75237

United States

Founded in 1998

21 Employees

Phone:

972-818-0720

Key Executives for TransCoastal Corporation

TransCoastal Corporation does not have any Key Executives recorded.

TransCoastal Corporation Key Developments

TransCoastal Corporation will Change its Ticker to TCEC from TCECQ

Effective February 04, 2016, TransCoastal Corporation will change its Pink Sheets LLC stock ticker symbol to TCEC from TCECQ.

First Amended Prepackaged Reorganization Plan Approved for TransCoastal Corporation

The US Bankruptcy Court approved the first amended plan of reorganization of TransCoastal Corporation on January 12, 2016. The Court has also approved disclosure statement of the debtor. The debtor had filed its first amended plan of January 11, 2016 and disclosure statement in the Court on December 8, 2015. As per the approved plan, administrative claims, statutory fees, professional fees and post-petition tax claims shall be paid full in cash. Priority tax claims shall be paid paid full in cash. Ordinary course liabilities shall be paid pursuant to the payment terms and conditions of the particular transaction giving rise to the ordinary course liability. Secured claims of senior lender of $21.33 million shall receive in full satisfaction, 100% of the issued and outstanding new TC common interests as of the effective date and 100% of the new exit facility term loan. Secured tax claims shall receive cash equal to allowed amount of the claim. Other secured claims shall either receive cash or reinstatement of legal, equitable and contractual rights of the claim. Priority non-tax claims shall receive in full satisfaction of claim, cash equal to the unpaid portion of the claim. General unsecured claims shall be paid cash for the unpaid portion of the claim. Intercompany claims shall be reinstated in full or in part or cancelled or discharged in full or in part. TC-TX interests shall be canceled and extinguished and holders shall not be entitled to receive any distribution on account of such interests. CoreTerra interests shall be reinstated. The plan will be funded through issuance of new TC common interests to the senior lender and issuance of exit facility term loan of $7 million at an interest of 7%.

First Amended Prepackaged Reorganization Plan Filed by TransCoastal Corporation

TransCoastal Corporation filed first amended prepackaged plan of reorganization in the US Bankruptcy Court on January 11, 2016. Treatment of all the classes of claims remains same as per the previous plan.

Similar Private Companies By Industry

Company Name Region
102 Oil Wells in East Texas Field United States
11 Good Energy, Inc. United States
1280 Horizons, LLC United States
15 Fields in Williston Basin United States
153 Woodbine Wells in The East Texas Oil Field in Rusk County United States

Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
December 8, 2015
--
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Bloomberg L.P. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact TransCoastal Corporation, please visit www.transcoastal.net. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.