Published: September 9, 2020 |

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Bruin E&P Partners and its subsidiaries, an exploration and production company with assets in the Williston Basin, North Dakota, has completed its restructuring process and has emerged from Chapter 11. The comprehensive balance sheet restructuring equitizes a substantial majority of the company’s funded debt. The company emerges with $230 million in revolver capacity.

“Bruin has been able to undergo an extremely efficient and uncontentious Chapter 11 proceeding due to the support of our stakeholders, including our vendors, suppliers, regulatory agencies, banking group, and additional members of our capital structure. Most importantly, our employees have continued to work safely and productively through the process,” said Matt Steele, chief executive officer of Bruin.

“We would like to thank each of our advisors for their guidance and tireless work and we look forward to continue to operate in the Williston Basin through our premier acreage position and operational excellence,” added Steele.

Bruin emerges with a newly constituted board of directors, effective in conjunction with the company’s emergence from Chapter 11. The new board is comprised of Kevin Asarnow, Mark Bisso, Richard J. Doleshek, Mike Wichterich, and Matthew Steele.

About Bruin
Bruin is an independent exploration and production company focused on the acquisition and development of onshore oil and natural gas producing properties in the core of the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota. Bruin is headquartered in Houston, Texas and has offices in North Dakota and Colorado.

To stop by Bruin’s website, CLICK HERE

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