April 22, 2018 7:00 AM ET

Oil, Gas and Consumable Fuels

Company Overview of QRE Operating, LLC

Company Overview

QRE Operating, LLC acquires, explores, and develops onshore crude oil and natural gas properties in the United States. The company was incorporated in 2010 and is based in Houston, Texas. QRE Operating, LLC operates as a subsidiary of Breitburn Energy Partners LP. On May 15, 2016, QRE Operating, LLC filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of New York. It is in joint administration with Breitburn Energy Partners LP.

1401 McKinney Street

5 Houston Center

Suite 2400

Houston, TX 77010

United States

Founded in 2010

Phone:

713-452-2200

Fax:

713-452-2202

Key Executives for QRE Operating, LLC

QRE Operating, LLC does not have any Key Executives recorded.

QRE Operating, LLC Key Developments

Third Amended Reorganization Plan and disclosure Statement Filed by Breitburn Energy Partners LP

Breitburn Energy Partners LP filed a third amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on December 1, 2017. As per the plan filed, the administrative claims of $72.5 million and professional fee claims of $41 million will be paid in cash. The DIP Facility claims of $63.6 million will be paid in full in cash. There is no change in treatment of various other claimant classes.

Second Amended Reorganization Plan and Disclosure Statement Filed by Breitburn Energy Partners LP

Breitburn Energy Partners LP filed a second amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on November 28, 2017. As per the plan, the unsecured notes claim holders elect to receive the amounts committed in the Minimum Allocation Rights and the Rights Offering. The general unsecured claims will be paid $1.5 million from cash pool and elect to receive the amounts committed in the Minimum Allocation Rights and the Rights Offering to hold New Permian Corp. Shares through the facilities of DTC. There is no change in treatment of other various claimant classes.

Sixth Amended DIP Financing Approved for Breitburn Energy Partners LP

The US Bankruptcy Court gave an order approving the sixth amendment to DIP financing agreement for Breitburn Energy Partners LP on November 15, 2017. As per the order, scheduled maturity date has been changed from December 31, 2017 to March 31, 2018. The DIP Lenders have agreed to receive a facility fee of 1.00% per annum. All other provisions of the Final DIP order shall remain unchanged.

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Recent Private Companies Transactions

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