Sanchez emerges from Chapter 11 as Mesquite Energy

July 1, 2020
Sanchez Energy Corp. has emerged from its financial restructuring and emerged from Chapter 11 as privately held Mesquite Energy Inc.

Sanchez Energy Corp. has emerged from its financial restructuring and emerged from Chapter 11 as privately held Mesquite Energy Inc. With the restructuring and pursuant to the plan of reorganization, the company eliminated substantially all its $2.3 billion debt.

Cameron W. George will serve as interim chief executive officer, executive vice-president, and chief financial officer of the company. George served as executive vice-president and chief financial officer of Sanchez Energy. Prior, he was a member of the founding team at Linn Energy.

The Houston-based company and certain of its subsidiaries voluntarily filed for reorganization under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the Southern District of Texas in August 2019 (OGJ Online, Aug. 12, 2019).