September 23, 2017 10:09 PM ET

Diversified Financial Services

Company Overview of Memorial Production Finance Corporation

Company Overview

Memorial Production Finance Corporation was incorporated in 2013 and is based in Houston, Texas. Memorial Production Finance Corporation operates as a subsidiary of Memorial Production Partners LP.

1301 Mckinney Street

Suite 2100

Houston, TX 77010

United States

Founded in 2013

Phone:

713-588-8300

Key Executives for Memorial Production Finance Corporation

Memorial Production Finance Corporation does not have any Key Executives recorded.

Memorial Production Finance Corporation Key Developments

Second Amended Reorganization Plan Approved for Memorial Production Partners LP

The US Bankruptcy Court approved the second amended plan of reorganization of Memorial Production Partners LP on April 14, 2017. The debtor has filed its amended plan in the Court on April 13, 2017. As per the amended plan, Administrative Expense Claims, Professional Fee Claims, Other Priority Claims and Priority Tax Claims will be paid in full in cash. Each holder of Other Secured Claims shall receive, at the option of the Debtors, Cash in an amount equal to such Claim or reinstatement of the claim. Beta Trust Claims shall receive continuing interests in Beta Trust Pre-Existing Cash Deposit and Debtors shall maintain Beta Replacement Sureties and shall grant to the Beta Previous Owners a lien in the proceeds of the Beta Replacement Sureties. RBL Credit Facility Claims of $701 million shall receive Pro Rata share of Cash in an amount equal to all accrued interest, expense reimbursements and Pro Rata share of the Exit Credit Facility. Unsecured Notes Claims, comprising of 7.625% Senior Unsecured Notes of $646.30 million and 6.875% Senior Unsecured Notes of $465 million are estimated to recover in the range of 23% to 40% of the allowed amount. Unsecured Notes Claims holders shall receive pro rata share of New Common Shares representing in the aggregate 98% of the total outstanding shares of Memorial Parent NewCo Unsecured Noteholder Cash Distribution Amount. General Unsecured Claims shall be continued to be paid or dispute each of the Claim in the ordinary course of business as if the Chapter 11 Cases had never been commenced. Intercompany Claims shall be paid, adjusted, Reinstated or discharged to the extent reasonably determined to be appropriate by the Debtors. All Intercompany Interests will be reinstated. Memorial Parent Interests shall be cancelled. Each Memorial Limited Partner will receive Pro Rata share of Memorial Limited Partner New Common Shares and Memorial Limited Partner Warrant. The plan will be funded from cash in hand, exit credit facility and issuance of new common shares.

Second Amended Reorganization Plan Filed by Memorial Production Partners LP

Memorial Production Partners LP filed a second amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on April 13, 2017. There were no changes in the treatment of classes of claims in the amended plan.

First Amended Joint Reorganization Plan and Disclosure Statement Filed by Memorial Production Partners LP

Memorial Production Partners LP filed an amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on February 24, 2017. There were no changes in the treatment of classes of claims in the amended plan.

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