Brief

Scanrock Files Plan To Pay Debt With Property Sales

By Rick Archer · April 28, 2025, 2:30 PM EDT

Hydrocarbon driller Scanrock Oil & Gas on Monday filed its Chapter 11 plan with a Texas bankruptcy court, saying it plans to pay off its secured lenders with the sale of...

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Bankruptcy Scorecard

Summary

Scanrock filed for Chapter 11 protection along with several affiliates, saying it was in default under a $50 million secured loan owed to Prosperity Bank after repeated downturns in oil and gas prices, coupled with rising interest rates, hampered its liquidity over the last several years.

Case Number

9:25-bk-90001

Judge

Mark X. Mullin

Venue

U.S. Bankruptcy Court for the Northern District of Alabama

Capital Structure

Total Liabilities:

At Least $66.6 Million

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Documents

Reorganization Plan