Creditors and debtors turn to Porter Hedges for resolving problems creatively, effectively, and efficiently. We excel at reorganizations, both in Chapter 11 cases and out of court. We handle restructurings for financially distressed enterprises and for healthy companies seeking to recapitalize or restructure their organization and finances.

We represent debtors, creditors, trustees, creditors' committees, institutional lenders, and investors in out of court debt restructurings, acquisitions and financings, and Chapters 7, 9, and 11 bankruptcies throughout the U.S.

Our team is consistently recognized among leading practice both in Texas and across the country.  In 2019, Chambers USA named Porter Hedges “Bankruptcy Firm of the Year” in Texas.

Areas of Focus

  • Debtor Representation
  • Creditor and Investor Representation
  • Restructuring and Workouts
  • Distressed M&A
  • Debtor-in-Possession Financing
  • Bankruptcy Litigation
  • Director and Officer Representation
  • Trustee Representation

Our attorneys provide experienced guidance in assessing all stakeholder interests, including creditors who want their claims protected or paid promptly and debtors who want to remain viable for the company, its creditors, and its employees. While a consensual resolution is always the desired resolution, when that option is not workable, our lawyers are well prepared to litigate and have substantial litigation experience in bankruptcy courts, federal district courts, and federal appellate courts.

Oil and Gas Focus

Whether as debtor's counsel, lead counsel for creditors, or as local counsel for global firms, our team has particular experience with the restructuring of oil and gas companies. We advise clients on many of the issues specific to energy including:

  • Payment Assurance
  • Contract and Claim Analysis
  • Review of Counterparty Agreements
  • Asset Purchase and Sale
  • Payment of Invoices Under Common “Critical Vendor” Orders
  • Assumption of Contracts and Cure of Defaults
  • Mechanic and Materialman (M&M) Liens and Related Financing

Related Practices

Experience

Debtor Representation

  • Anchor Drilling Fluids USA, LLC
  • Diamond Offshore Drilling, Inc.
  • American Commercial Lines
  • Tri-Point Oil & Gas Production Systems LLC
  • Calfrac Well Services Ltd.
  • Omni AI
  • Epic Companies, LLC
  • Alta Mesa Resources, Inc.
  • PetroQuest Energy, Inc.
  • Neighbors Health System, LLC
  • Geokinetics, Inc.
  • EMAS Chiyoda Subsea, Ltd.
  • Carbon Creek Energy, LLC
  • Milagro Exploration, LLC 
  • Spectrawatt, Inc.
  • Stone Energy Corporation
  • UGHS Senior Living, Inc.
  • University General Health System, Inc.
  • KiOR, Inc.
  • Superior Offshore International, Inc.
  • Community Health Computing Corp.
  • Diabetes America, Inc.
  • Doctors Hospital LP
  • Bigler, L.P.
  • Bison Building Materials, LLC
  • Continental Airlines, Inc. (Continental I)
  • Contour Energy Co.
  • Eagle Geophysical, Inc.
  • Easy Gardener Products Ltd.
  • Equalnet Communications Corp.
  • General Homes Corporation (I and II)
  • Netversant Solutions, LLC
  • Philip Services Corporation
  • Southwest Grain Co.
  • TransCom USA Management, Inc.

Creditor and Investor Representation

  • A&B Valve and Piping Systems, LLC - Represented Secured Lender in Chapter 11 Reorganization of $5 million in debt
  • Adeptus Health - Represented Creditor in Chapter 11 Reorganization
  • All American Oil & Gas Incorporated - Represented Secured Lender and Purchaser in Chapter 11 Reorganization of $160 million in debt
  • ATP Oil & Gas Corporation - Represented Official Committee of Unsecured Creditors in Chapter 11 Reorganization of $2.8 billion in debt
  • Black Elk Energy Offshore Operations, LLC - Represented Creditor in Chapter 11 Reorganization
  • BPI Energy, Inc. - Represented Secured Creditor in Chapter 11 Reorganization
  • Breitburn Energy Partners L.P. - Represented Official Committee of Unsecured Creditors in Chapter 11 Reorganization of $2.9 billion in debt
  • Bristow Group - Represented Official Committee of Unsecured Creditors in Chapter 11 Reorganization of $2 billion in debt
  • Buccaneer Resources, LLC - Represented Senior Secured Lender in Chapter 11 Reorganization of $50 million in debt
  • Calpine Corporation - Represented Creditor in Chapter 11 Reorganization
  • Castex Energy Partners, L.P. - Represented Secured Creditor and DIP Agent in Chapter 11 Reorganization of $400 million in debt
  • Chaparral Energy, Inc. - Represented Creditor in Chapter 11 Reorganization
  • Cobalt International Energy, Inc. - Represented Secured Creditors in Chapter 11 Reorganization
  • Covia Holdings Corp. - Represented Ad Hoc Group of Term Loan Lenders in Chapter 11 Reorganization of $1.6 billion in debt
  • Energy XXI - Represented Creditors and Independent Director in Chapter 11 Reorganization of $1.2 billion in debt
  • EP Energy - Represented Creditor and Plan Sponsor in Chapter 11 Reorganization of $3.3 billion in debt
  • Erin Energy Corporation - Represented Secured Creditor in Chapter 11
  • Fayetteville-Floyd Gas Company, Inc. - Represented Official Committee of Unsecured Creditors in Chapter 11 Reorganization of $3.92 billion in debt
  • Gastar Exploration Inc. - Represented Ares Management LLC in Chapter 11 Reorganization of $450 million in debt
  • GenOn Energy Inc. - Represented Ad Hoc Committee of Noteholders in Chapter 11 Reorganization of $1.8 billion in debt
  • Halcón Resources Corporation - Represented Ad Hoc Group of Bondholders in Chapter 11 Reorganization of $1 billion in debt
  • Hi-Crush Inc. - Represented Ad Hoc Group of Holders in Reorganization of $700 million in debt
  • Hornbeck Offshore Services – Represented Ad Hoc Group of Lenders in Chapter 11 Reorganization of $1 billion in debt
  • Humble Surgical Hospital, LLC - Represented Creditor in Chapter 11 Reorganization of up to $100 million in debt
  • Ignite Restaurant Group, Inc. - Represented Secured Creditor in Chapter 11 Reorganization of $197 million in debt
  • iHeartRadio - Represented First Lien Ad Hoc Committee in Chapter 11 Reorganization of $20.3 billion in debt
  • JCPenney – Represented Ad Hoc Group of First Lien Holders in Chapter 11 Reorganization of $3.7 billion in debt
  • Jerry Torres Properties, LLC - Represented Secured Lender in Chapter 11 Reorganization
  • Jones Energy, Inc. - Represented First Lien Ad Hoc Group in Chapter 11 Reorganization of $1 billion in debt
  • Legacy Reserves, Inc. - Represented Ad Hoc Group of Bondholders in Chapter 11 Reorganization of $300 million in debt after a $800 million debt-for-equity swap
  • LINN Energy, Inc. - Represented Secured Creditor in Chapter 11 Reorganization of $10 billion in debt
  • Linc Energy USA, GP - Represented Ad Hoc Group of First Lien Noteholders in Chapter 11 Reorganization of $100 million in debt
  • Magnum Hunter Resources Corporation - Represented Creditor in Chapter 11 Reorganization
  • Mansfield Boat & RV Storage - Represented Secured Lender in Chapter 11 Reorganization
  • McDermott International - Represented Ad Hoc Group of First Lien Lenders
  • Montco Offshore, Inc. - Represented Official Committee of Unsecured Creditors in Chapter 11 Reorganization of $131 million in debt leading up to a JV
  • Neiman Marcus Group – Represented Ad Hoc Secured Noteholders Committee in Chapter 11 Reorganization of $5.1 billion in debt
  • NPC International - Represented KKR Loan Administration Services LLC in Reorganization of $903 million in debt
  • Peninsula Airways - Represented DIP Lender in Chapter 11 Reorganization of $19 million in debt
  • Quicksilver Resources Inc. - Represented Creditor in Chapter 11 Reorganization
  • Sabine Oil & Gas Corporation - Represented Official Committee of Unsecured Creditors in Chapter 11 Reorganization of $2.9 billion in debt
  • Sable Permian Resources - Represented Ad Hoc Group of Senior Secured Noteholders in Chapter 11 Reorganization of $1.32 billion in debt

  • Samson Resources Corporation - Represented Creditor in Chapter 11 Reorganization
  • Sanchez Energy Corporation - Represent Creditors in Chapter 11 Reorganization of $2.3 billion in debt
  • Seadrill Limited - Represented Samsung Heavy Industries in Chapter 11 Reorganization
  • Tekoil & Gas Corporation - Represented Official Committee of Unsecured Creditors in Chapter 11 Reorganization of $100 million in debt
  • Toys ‘R’ Us, Inc. - Represented DIP Notes Trustee in Chapter 11 Reorganization
  • Ultra Petroleum Corp. - Represented Ad Hoc Group of Bondholders in Chapter 11 Reorganization of $3.92 billion in debt
  • Uplift Rx, LLC - Represented Secured Lender in Chapter 11 Reorganization
  • Urban Oak Builders - Represent Creditor in Chapter 11 Reorganization
  • Vanguard Natural Resources, Inc. - Represented Second Lien Ad Hoc Group in Chapter 11 Reorganization of $1.2 billion in debt
  • Walker County Hospital Corporation – Represented MidCap Financial Trust in Chapter 11 Reorganization of $35 million in debt
  • Watson Grinding and Manufacturing Co. - Represented Official Committee of Unsecured Creditors in Chapter 11 Reorganization of $50 million in debt
  • Westinghouse Electric Company - Represented Secured Creditor in Chapter 11 Reorganization
  • Westmoreland Coal Company - Represented Secured Lenders and Purchaser in Chapter 11 Reorganization of $1.4 billion in debt
  • Whiting Petroleum - Represented Ad Hoc Committee of Noteholders in the Reorganization of $2.3 billion in debt
  • Additional Creditor Representation
    • Dune Energy, Inc.
    • Energy & Exploration Partners, Inc.
    • Enron Corporation 
    • Freedom Pipeline, LLC
    • HGIM Holdings, LLC
    • Lyondell Chemical Company
    • Mirant Corporation
    • MSB Energy, Inc.
    • New Gulf Resources, LLC
    • Palm Energy Partners, LLC
    • Pisces Energy, LLC
    • RAAM Global Energy Company
    • Reichmann Petroleum Corp.
    • Ryckman Creek Resources, LLC
    • Siempre Energy, LLC
    • SunEdison Inc.
    • Admiral Bay Resources, Inc.
    • Admiral Bay (USA), Inc.
    • Alliance Energy Corporation
    • Delta CBM Holdings LLC
    • Dunhill Resources, Inc.
    • EnDevCo Eureka, LLC
    • Goldking Holdings, LLC
    • Irvine Energy PLC
    • Rancher Energy Corp.
    • Resource Technology Corporation
    • Star Resources, Inc.
    • TEC Resources LLC
    • Two Oaks Exploration and Production Company, LLC
    • Crutcher-Tufts Resources, L.P. 

Out of Court Workouts

  • U.S. Well Services, LLC
  • Carrizo Oil & Gas, Inc.
  • Cygnus Oil & Gas Corp.
  • Exterra Energy, Inc.
  • MSB Energy, Inc.
  • Sequent Energy Management
  • Star of Texas Energy Services, Inc.
  • Striker Petroleum, LLC

Distressed M&A

  • Alpha Natural Resources - Counsel to Purchaser of Oil & Gas Assets for $339.5 million
  • Calpine Corporation - Counsel to Purchaser of Assets for $189 million
  • Crusader Energy Group Inc. - Counsel to Purchaser of Oil & Gas Assets for $289 million
  • Destination Pet, LLC - Counsel to Purchaser of Assets for $47 million 
  • Dune Energy, Inc. - Counsel to Purchaser of Oil & Gas Assets for $19 million
  • Edge Petroleum Corporation - Counsel to Purchaser of Oil & Gas Assets for $191 million
  • Encompass Services Corp. - Counsel to Purchaser of Assets for $12.5 million
  • Enron Corporation - Counsel to Purchaser of Assets for $100 million
  • Freedom Pipeline, LLC - Counsel to Purchaser of Oil & Gas Assets for $30 million
  • NanoMech, Inc. - Counsel to Purchaser of Assets for $9 million 
  • Osage Exploration and Development Inc. - Counsel to Purchaser of Oil & Gas Assets for $8.4 million
  • Reichmann Petroleum - Counsel to Purchaser of Oil & Gas Assets for $15.2 million
  • Reliant Building Solutions - Counsel to Purchaser of Assets for $5 million
  • Texas Pellets, Inc. - Counsel to stalking horse bidder in over $50 million transaction
  • TIC United Corp. - Counsel to Purchaser of Assets for $1.7 million
  • Transcoastal Marine Service, Inc. - Counsel to Purchaser of Assets for $30 million
  • Westmoreland Coal Company - Counsel to stalking horse bidder in over $19 million transaction

Defense of Officers and Directors

  • Energy XXI

  • Dune Energy, Inc.

  • American Smelting and Refining Company LLC (ASARCO)

  • Lyondell Chemical Company

Trustee Representation

  • In re Amerejuve, Inc. (Chapter 11 Trustee)
  • In re Bellaire General Hospital (Chapter 7 Trustee)
  • In re Brown Medical Center, Inc. (Chapter 11 Trustee)
  • In re Busy Body, Inc. (Post-confirmation Trustee)
  • In re Caltex Holdings, L.P. (Chapter 11 Trustee)
  • In re CAMAC International Limited (Chapter 15 Trustee)
  • In re DeRosa-Grund (Chapter 7 Trustee)
  • In re Diabetes America, Inc. (Post-confirmation Trustee)
  • In re Endeavour Highrise, L.P. (Chapter 11 Trustee)
  • In re Hawk (Chapter 7 Trustee)
  • In re Jack’s Carpet (Chapter 7 Trustee)
  • In re Linc Energy, et al (Chapter 11 Trustee)
  • In re Morningstar Gas, Inc. (Chapter 11 Trustee)
  • In re Okedokun (Chapter 7 Trustee)
  • In re Quality Infusion Care, Inc. (Chapter 7 Trustee)
  • In re Spring ER, Inc. (Chapter 7 Trustee)
  • In re St. Marie’s Clinic (Chapter 7 Trustee)
  • In re Urban Mall Houston, L.P. (Chapter 11 Trustee)
  • In re Vanderhall Exotics of Houston (Chapter 7 Trustee)
  • In re Von Directional Services LLC (Chapter 7 Trustee)
  • In re Westbury Community Hospital LLC (Chapter 11 Trustee)


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