Davis Polk Advises San Juan Offshore LLC on Acquisition of Arena Energy LP Pursuant to Prepackaged Chapter 11 Plan
8/26/2020

Davis Polk is advising San Juan Offshore LLC (“San Juan”) on its proposed acquisition of Arena Energy LP (“Arena”) pursuant to a prepackaged chapter 11 plan (the “Plan”) for Arena. On August 20, 2020, Arena launched a solicitation of votes on the Plan, which is supported by supermajorities of both tranches of Arena’s funded debt, and commenced chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas. 

San Juan was formed by certain members of the existing management team in connection with Lime Rock Partners VIII, LP.

The Davis Polk restructuring team includes partner Brian M. Resnick and associates Stephanie Massman and Gene Goldmintz. The corporate team includes partner Harold Birnbaum and associate Jamie Kurtz. Partner William A. Curran and associate Elina Khodorkovsky are providing tax advice. All members of the Davis Polk team are based in the New York office.