The previously reported private oil and gas company, Henenghaixin Operating Corp., has received court permission to purchase Twin Butte Energy from the receiver, FTI Consulting. Here’s the notice from FTI Consulting’s website:
On January 18, 2016 the Receiver sought and were granted a sale approval and vesting Order. The Order authorized the Receiver to sell all of Twin Butte’s oil and gas assets to Henenghaixin Operating Corp. (“HOC Transaction”). The Receiver expects the transaction to close in the first quarter of 2017. Once the HOC Transaction has closed the Receiver anticipates making an application to Court requesting approval to initiate a claims process. Further updates will be provided with respect to closing and the claims process when they become available.