Counseled Energy Clients through Out-of-Court Recapitalization
Client: American Energy – Permian Basin, LLC
Travis represented the private equity sponsors and Sable Permian Resources, LLC (as operator of the oil and gas assets) in the successful completion of AEPB's $2.1 billion out-of-court recapitalization. The transaction reduced AEPB's debt obligations by approximately $1.4 billion and reduced upcoming debt maturities over the next four years, from roughly $2.1 billion down to roughly $36 million. The transaction also eliminated approximately $94 million of annual cash interest expense and simplified AEPB's organizational structure.*
*Representation prior to joining Dinsmore & Shohl