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Shoreline Energy successfully confirms chapter 11 plan and closes asset sales

February 2017

Jones Day represented Shoreline Energy LLC and seven of its affiliates in their chapter 11 cases which filed for protection on November 2, 2016 in the Southern District of Texas. The Houston-based oil and gas exploration and production company entered into a restructuring support agreement with Morgan Stanley, the first lien lender, and Highbridge Capital Management, the largest second lien lender, that established a timeline for a sale and plan confirmation process.

In February, 2017, Shoreline confirmed its plan of liquidation after obtaining approval of the sale of its core business to SLF SL Purchaser LLC, and certain non-core assets to eight other buyers. Shoreline closed the asset sales and completed its bankruptcy cases just four months after the cases were filed.

For additional information about this matter, please contact: Paul M. Green, Thomas A. Howley

Client(s): Shoreline Energy LLC