October 25, 2016 6:18 PM ET

Oil, Gas and Consumable Fuels

Company Overview of ERG Resources, L.L.C.

Company Overview

ERG Resources, L.L.C. evaluates, acquires, operates, and exploits oil and gas assets in Santa Barbara County. The company produces energy that cooks food, heats homes, and powers cars. ERG Resources, L.L.C. was formerly known as Energy Reserves Group L.L.C. and changed its name to ERG Resources, L.L.C. in January 2006. The company was founded in 1999 and is based in Houston, Texas. ERG Resources, L.L.C. operates as a subsidiary of CTS Properties, Ltd.

Three Allen Center

333 Clay Street

Suite 4400

Houston, TX 77002

United States

Founded in 1999





Key Executives for ERG Resources, L.L.C.

Chief Financial Officer
Age: 46
President of ERG Operating
Age: 53
Compensation as of Fiscal Year 2016.

ERG Resources, L.L.C. Key Developments

ERG Resources, L.L.C. Presents at Louisiana Energy Conference 2016, Jun-01-2016 09:30 AM

ERG Resources, L.L.C. Presents at Louisiana Energy Conference 2016, Jun-01-2016 09:30 AM. Venue: Westin Canal Place Hotel, New Orleans, Louisiana, United States. Speakers: Ted Wicks, Executve Vice President and CFO.

First Amended Reorganization Plan Approved for ERG Resources, L.L.C.

The US Bankruptcy Court approved the amended plan of reorganization and disclosure statement of ERG Intermediate Holdings, LLC on October 30, 2015. The debtor had filed its first amended plan in the Court on September 18, 2015. As per the amended plan, Administrative Claims, United States Trustee Fee, DIP Facility Claims of $17.5 million, Professional Fees, Priority Claims of $3.7 million, Other Secured Claims of $9.6 million and Administrative Convenience Claims of $0.25 million will be paid in full in cash. Prepetition Facility Claims of $400 million will be paid as per the amended prepetition loan document. Unsecured Claims of $64 million will be paid in the form of equity. Intercompany Claims will be reinstated. Intermediate Holdings Membership Interests will receive payment in the form of cash and equity. Other Debtor Membership Interests will be reinstated. The plan will be funded by cash in hand and exit facility in the amount of $150 million.

Final Order for Third Amended DIP Financing Approved for ERG Resources, L.L.C.

The US Bankruptcy Court gave a final order approving the third amendment to DIP financing agreement for ERG Intermediate Holdings, LLC on an interim basis on September 21, 2015. As per the order, the DIP facility would now mature on November 15, 2015 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier.

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

June 20, 2016
AIX Energy, Inc.
June 20, 2016
Antero Energy Partners, LLC

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
Bertelsmann AG Europe
Bloomberg L.P. United States
NYC2012, Inc. United States
The Advertising Council, Inc. 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 ERG Resources, L.L.C., please visit www.energy-reserves.com. 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.