Ascent Resources Marcellus emerges from chapter 11 bankruptcy
Wednesday, April 11, 2018
Ascent Resources and its wholly-owned subsidiaries emerged from chapter 11 bankruptcy last week, roughly seven weeks after filing for protection from creditors, according to Kallanish Energy.
The bankruptcy filing by the Ascent companies was part of a consensual financial restructuring approved by certain holders of first- and second-lien loans.
At the time of the filing on Feb. 6, Ascent estimated creditors totaling between 200 and 999, total assets of between $500 million and $1 billion, and total debt between $1 billion and $10 billion.
Learn more: Kallanish Energy > Ascent Resources Marcellus Holdings emerges from Chapter 11
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Depending on the company, royalty payments can arrive monthly or quarterly.
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Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
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Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.