Templar Energy’s $91 Million Sale, Liquidation Plan Approved

Bankrupt oil and gas company Templar Energy LLP won court approval of its $91 million asset sale and confirmation of its liquidation plan.

The sale to Presidio Investment Holdings LLC, approved Thursday by Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware during a virtual hearing, follows a July 9 video-conference auction.

The winning bid was about 40% more than the original stalking horse bid of $65 million made by Tapstone Energy LLC, said Presidio’s attorney, Charles Persons of Sidley Austin LLP.

Templar’s amended liquidation plan, filed Wednesday, provides for how the sale proceeds ...