Templar Energy Lands Tapstone’s $65 Million Bankruptcy Offer

Templar Energy LLC secured a $65 million offer from Tapstone Energy LLC to buy its assets as the oil and gas driller winds down in bankruptcy.

Oklahoma City-based Templar identified Tapstone as the “stalking horse” bidder in papers filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware. The designation provides Tapstone with the right to collect a nearly $2 million break-up fee if another bidder is chosen at a July 9 auction.

Tapstone, also an Oklahoma City-based shale company, positioned itself to acquire Templar’s assets after completing a $450 million restructuring in April that left it with ...