San Juan Offshore acquisition of Arena Energy under prepackaged chapter 11 plan
10/7/2020

Davis Polk advised San Juan Offshore LLC on its acquisition of Arena Energy LP pursuant to a prepackaged chapter 11 plan for Arena Energy. On September 25, 2020, Arena Energy obtained confirmation of the plan which was supported by 100% of its secured lenders. On October 1, 2020, Arena Energy announced that it had successfully completed its financial restructuring and emerged from bankruptcy under the ownership of San Juan Offshore.   

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

The Davis Polk restructuring team included partner Brian M. Resnick and associate Stephanie Massman. The corporate team included partner Harold Birnbaum and associate Jamie Kurtz. Partner Elliot Moskowitz provided litigation advice. Partner William A. Curran and associate Elina Khodorkovsky provided tax advice. Partner Kenneth J. Steinberg advised on finance matters. All members of the Davis Polk team are based in the New York office.