Shale Driller Rockdale Marcellus’ $222 Million Asset Sale OK’d

Shale driller Rockdale Marcellus LLC got bankruptcy court approval to sell substantially all of its assets to Repsol Oil & Gas USA LLC for $220 million in cash, plus the assumption of $2 million in debt owed to trade creditors.

Proceeds from the sale, approved at a hearing Wednesday, would be enough to pay off all secured debt, estimated to be about $217 million as of January 2022, according to a declaration by Rockdale’s chief restructuring officer, John C. DiDonato.

The proceeds also will pay off administrative expenses and cover the company’s wind-down and Chapter 11 costs, according to court ...