Rockdale Marcellus Wins Approval to Wind Down in Bankruptcy

Rockdale Marcellus LLC won court approval to liquidate in bankruptcy and distribute its remaining assets to creditors, following a $222 million sale of the shale driller’s business and dealing with all secured claims.

The Canonsburg, Pa.-based company, which received plan approval during a hearing Thursday in the U.S. Bankruptcy Court for the Western District of Pennsylvania, has $17.7 million of cash left to distribute to creditors, among other miscellaneous assets.

The Chapter 11 plan terms emerged after the business was sold late last year to Repsol Oil & Gas USA LLC, and Rockdale paid off more than $216 million of ...