October 21, 2016 11:13 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Dune Energy Inc.

Company Overview

As of September 30, 2015, Dune Energy Inc. went out of business. Dune Energy, Inc., an independent energy company, acquires, explores for, exploits, and develops crude oil and natural gas properties. Its properties cover approximately 74,000 gross acres across 15 producing oil and natural gas fields along the Louisiana/Texas Gulf Coast. As of December 31, 2013, the company’s total proved reserves were 93.1 billion cubic feet of natural gas equivalent consisting of 50.1 billion cubic feet of natural gas and 7.2 million barrels of oil. It sells its oil and gas products primarily to domestic pipelines and refineries. The company was founded in 1998 and is headquartered in Houston, Texas.

Two Shell Plaza

Suite 2300

777 Walker Street

Houston, TX 77002

United States

Founded in 1998

34 Employees





Key Executives for Dune Energy Inc.

Dune Energy Inc. does not have any Key Executives recorded.

Dune Energy Inc. Key Developments

Dune Energy Inc. Announces Management Changes

Dune Energy Inc. announced that pursuant to the terms of the Final Plan, the company’s sole director James A. Watt was terminated as a Director of the company and from his positions as Chief Executive Officer, President and Secretary of the company without cause, effective from September 30, 2015, and Dan B. Lain was appointed as the sole member of the board of directors and as the plan trustee.

Dune Energy, Inc. Common Stock Deleted From Other OTC

Dune Energy, Inc. Common Stock deleted from Other OTC, effective October 1, 2015. The deletion was due to bankruptcy plan effective/shares cancelled.

Liquidation Plan and Disclosure Statement Approved for Dune Energy Inc.

The US Bankruptcy Court approved the plan of liquidation and disclosure statement of Dune Energy Inc. on September 18, 2015. The debtor has filed its plan and disclosure statement in the Court on September 18, 2015. As per the plan, administrative claims of $0.13 million, first lien lender adequate protection claim of $7.84 million, United States trustee fees, priority employee claims, priority unsecured tax claims of $0.79 million and professional fees of $0.33 million will be paid in full in cash. Secured tax claims, first lien lender secured claims of $40.2 million and other secured claims will be paid in cash with sale of assets and cash in hand. Second lien loan claims of $72.11, general unsecured claims of $10.2 million and first lien lender deficiency claim of $30 million will be paid in cash on a pro rata basis. Subordinated claims will not receive any distribution. Equity interests will be cancelled and will not receive any distribution. The plan will be funded by cash in hand and sale of assets.

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Recent Private Companies Transactions

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