Osage filed for Chapter 11 protection in February listing $42.5 million in total debt after it suspended its development operations in January 2015 based on historically low projections for the price of natural gas.
A unit of Oklahoma City’s Red Bluff Resources put in the winning $8.4 million bid for Osage Exploration and Development Inc. at an auction for the bankrupt oil and gas developer’s assets, a deal the company intends to present for court approval March 31, the debtor said Thursday
https://www.law360.com/articles/776565/red-bluff-wins-ch-11-auction-for-osage-with-8-4m-bid
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