Oil producer Cox Operating LLC is seeking emergency mediation to close the sale of most of its Gulf of Mexico production assets to driller W&T Offshore Inc. for $88.5 million.
Cox said it needs mediation to resolve post-auction disputes over servicing seven production fields, the bankrupt company said in court papers filed Tuesday in the US Bankruptcy Court for the Southern District of Texas. Cox is seeking mediation with Chevron USA Inc. & Union Oil Company, among others.
The Gulf Shore oil producer, which filed for bankruptcy in May, said it doesn’t have the time, cash, or flexibility under its ...
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