Shale Gas Driller Rockdale Marcellus Files for Ch. 11 Bankruptcy

Sept. 22, 2021, 9:36 PM

Rockdale Marcellus Holdings filed for bankruptcy on Tuesday with plans to try to sell natural gas assets at auction.

  • The company leases more than 49,000 acres that include 68 horizontal gas wells in northeastern Pennsylvania, according to court papers filed in Pittsburgh
  • The company listed assets and debts of $100 million to $500 million each in its Chapter 11 petition
  • Among the company’s top unsecured creditors is White Oak Global Advisors, owed $50.5 million, according to court papers
  • The company decided to file bankruptcy about four months after funds managed by Alta Fundamental Advisers bought out Rockdale’s loans and pressed ...

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