GMX RESOURCES INC.

  • General Information
  • Key Parties
  • Investor Information
  • Royalty Owner Information
  • Other



General Information

On April 1, 2013, GMX Resources Inc. and two (2) affiliated companies (collectively, the “Debtors”) each filed a petition in the United States Bankruptcy Court for the Western District of Oklahoma seeking relief under chapter 11 of the United States Bankruptcy Code. The Debtors’ cases have been assigned to Judge Sarah A. Hall. The Debtors' cases are being jointly administered for procedural purposes, meaning that all pleadings will be maintained on the case docket for GMX Resources Inc., Case No. 13-11456 (the “Main Case Docket”). The Main Case Docket can be accessed through the website maintained by the United States Bankruptcy Court for the Western District of Oklahoma (http://www.okwb.uscourts.gov). An unofficial version of the Main Case Docket is accessible by selecting the “Docket” link at the top of this page.

PRESS RELEASE


Important Phone Numbers

For additional information and inquires about these cases, please call the numbers listed below. U.S.-based parties should use the toll free number below. International parties should use the non-U.S. number below.

Toll Free U.S. #: (877) 854-0023
Non U.S. #: (503) 597-7711

Information Regarding Plan of Reorganization

On January 22, 2014 (the “Confirmation Date”), an Order Confirming [Docket No. 1033] (the “Confirmation Order”) the First Amended Joint Plan of Reorganization [Docket No. 1032] (the “Plan”) of GMX Resources Inc. and its subsidiaries (collectively, the “Debtors”) was signed by the Honorable Sarah A. Hall, United States Bankruptcy Judge, and entered by the Clerk of the United States Bankruptcy Court for the Western District of Oklahoma (the “Bankruptcy Court”).

The Effective Date of the Plan occurred on February 3, 2014.


PRESS RELEASE - GMX Resources Inc. Announces Effective Date of Plan of Reorganization

NOTICE OF OCCURRENCE OF EFFECTIVE DATE FOR FIRST AMENDED JOINT PLAN OF REORGANIZATION

NOTICE OF ENTRY OF ORDER CONFIRMING FIRST AMENDED JOINT PLAN OF REORGANIZATION

ORDER CONFIRMING FIRST AMENDED JOINT PLAN OF REORGANIZATION

FIRST AMENDED JOINT PLAN OF REORGANIZATION

Case Information

Section 341 Meeting of Creditors

Pursuant to section 341 of the Bankruptcy Code, the United States Trustee for the Western District of Oklahoma (the “United States Trustee”) has scheduled a meeting of creditors to be held at 2:00 p.m. (CT), on May 6, 2013 at 215 Dean A. McGee Avenue, Room 113, Oklahoma City, OK 73102.


Lead Debtor:
Case No: 13-11456  GMX Resources Inc.

Related Debtors:
Case No: 13-11457  Diamond Blue Drilling Company
Case No: 13-11458  Endeavor Pipeline Inc.

Claim Form

Proof of Claim Forms

The deadlines for filing of proofs of claim against the Debtors in this case has been established by the Bankruptcy Court as Monday, September 16, 2013 at 5:00 P.M. (Prevailing Eastern Time) for the General Bar Date and Friday, November 15, 2013 at 5:00 P.M. (Prevailing Eastern Time) for the Governmental Bar Date.


If by First-Class Mail:
GMX Resources Inc. Claims Processing Center
c/o Epiq Bankruptcy Solutions, LLC
FDR Station, P.O. Box 5269
New York, NY 10150-5269

If by Hand Delivery or Overnight Mail:
GMX Resources Inc. Claims Processing Center
c/o Epiq Bankruptcy Solutions, LLC
757 Third Avenue, 3rd Floor
New York, NY 10017

A blank proof of claim form can be obtained here.

A copy of the Bar Date Order can be obtained here.

A copy of the Bar Date Notice can be obtained here.

Bar Date & Proof of Claim FAQ can be obtained here.

Key Professionals

Debtors’ Counsel

Andrews Kurth LLP
600 Travis
Suite 4200
Houston, TX 77002
http://www.andrewskurth.com
Phone: (713) 220-4200
Fax: (713) 220-4285
Attn: Timothy A. Davidson, Esq.
David Zdunkewicz, Esq.
Joseph Rovira, Esq.

Debtors’ Co-Counsel

Crowe & Dunlevy
20 North Broadway
Suite 1800
Oklahoma City, OK 73102
http://attorneys.crowedunlevy.com
Phone: (405) 225-7700
Fax: (405) 239-6651
Attn: William H. Hoch, Esq.

Counsel for the Official Committee of Unsecured Creditors

Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C.
320 South Boston Avenue, Suite 200
Tulsa, OK 74103-3706
http://www.hallestill.com
Phone: (918) 594-0400
Fax: (918) 594-0505
Attn: Steven W. Soulé, Esq.
Bonnie N. Hackler, Esq.

Gray Reed & McGraw, P.C.
1601 Elm Street, Suite 4600
Dallas, TX 75201
http://www.grayreed.com
Phone: (214) 954-4135
Fax: (214) 953-1332
Attn: Jason S. Brookner, Esq.
Micheal W. Bishop, Esq.
Lydia R. Webb, Esq.

Investment Banker and Financial Advisor(Contact with all questions related to sale process)

Jefferies LLC
520 Madison Avenue
7th Floor
New York, NY 10022
http://www.jefferies.com

Attn: Tero O. Jänne
Phone: (212) 284-1723

And

Attn: Rory T. Keenan
Phone: (212) 323-3907

Official Committee of Unsecured Creditors

Pursuant to Docket #40 and #127, the following creditors have been appointed to the Official Committee of Unsecured Creditors in these cases by the Office of the United States Trustee:

Bank of New York Mellon
601 Travis Street, 16th Floor
Houston, Texas 77002
Representative: Dennis Roemlein
Phone: (713) 483-6531

Penn Virginia Corporation
840 Gessner, Suite 800
Houston, Texas 77024
Representative: John Brooks
Phone: (713) 722-6545

MBI Energy Logistics LLC
12980 35th Street SW
Belfield, ND 58622
Representative: Tony Hauck
Phone: (701) 575-8242

Pyramid Tubular Products, L.P.
2 Northpoint Drive, Suite 610
Houston, TX 77060
Representative: Kenneth Richmond
Phone: (281) 405-8090

C&J Energy Services, Inc.
10375 Richmond Ave, Suite 1910
Houston, TX 77042
Representative: Mark Cashiola
Phone: (713) 260-9910

Dual Trucking and Transport, LLC
P.O. Box 590
Houma, LA 70361
Representative: Walter Berry
Phone: (985) 223-8878

American Stock Transfer & Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219
Representative: Karishma Kadian
Phone: (718) 921-8180

Cudd Pumping Services
8032 Main Street
Houma, LA 70360
Representative: Allyson Lyons
Phone: (985) 853-5825

Regency Intrastate Gas, LP
2001 Bryan Street, Suite 3700
Dallas, TX 75201
Representative: Stephen Reilly
Phone: (214) 840-5605

U.S. Trustee

Office of the United States Trustee, Western District of Oklahoma
215 Dean A. McGee Avenue
4th Floor
Oklahoma City, OK 73102
Phone: (405) 231-5951
Fax: (405) 231-5958

GMX RESOURCES INC. Announces Effective Date of Plan of Reorganization

Oklahoma City, Oklahoma, Monday, February 3, 2014. GMX RESOURCES INC., (OTC Markets: GMXRQ) (“GMXR” or the “Company”) is an oil and gas exploration and production Company with assets in the Williston Basin, Denver Julesburg (“DJ”) Basin and East Texas Basin.

As previously reported, on April 1, 2013, the Company filed a voluntary petition (In re: GMX Resources Inc., Debtor, Case No. 13-11456) for reorganization under chapter 11 of title 11 of the U.S. Code (the “Bankruptcy Code”) in the Bankruptcy Court for the Western District of Oklahoma (the “Bankruptcy Court”). Two of the Company’s subsidiaries, Diamond Blue Drilling Co. and Endeavor Pipeline Inc. (collectively with the Company, the "Debtors"), also filed related petitions with the Bankruptcy Court (Case Nos. 13-11457 and 13-11458, respectively). The Company’s petition and its subsidiaries’ petitions are referred to herein collectively as the “Bankruptcy Case.”

Chapter 11 Plan of Reorganization Effective Date

The Company announces today (the “Effective Date”) that its confirmed Plan of Reorganization (the “Plan”) has become effective. The Plan, which was confirmed by a Bankruptcy Court order dated January 22, 2014, reorganizes the Debtors into privately held entities that will not be listed on any national securities exchange. The Company expects to formally terminate the registration of its securities with the Securities and Exchange Commission early this week.

The reorganization of the Debtors’ capital structure under the Plan reduces the total amount of outstanding indebtedness by approximately $505,000,000 under four separate indentures. Secured claims under the senior-most indenture, allowed by the Bankruptcy Court in the amount of $338,000,000 have been exchanged for equity interests in Thunderbird Resources Equity Inc. (“Reorganized GMXR”) and/or Thunderbird Resources LP (“New GMXR”). All priority non-tax claims have been paid off today or will be paid as soon as reasonably practical. General unsecured creditors received a pro rata share of (1) interests in a creditor trust created as of the Effective Date; and (2) $1.5 million in cash. At the option of the Debtors (with certain required consents), intercompany claims were either reinstated or eliminated, in full or in part. As of the Effective Date, all rights and interests of holders of the Company’s common and preferred stock have been terminated. Finally, equity interests in the debtor subsidiaries are now held directly by Reorganized GMXR for the benefit of the holders of Reorganized GMXR common stock.

The formation of New GMXR and Reorganized GMXR are both effective as of today. In connection with the Plan, the Company has contributed all of its assets to New GMXR free and clear of all liens and encumbrances. Additional restructuring transactions set forth in the Plan and any additional transactions determined to be necessary to an effective reorganization have been completed as of the Effective Date. Equity interests in Reorganized GMXR and New GMXR are subject to certain transfer and other restrictions pursuant to a Shareholders’ Agreement and Agreement of Limited Partnership that became effective today, as well as the organizational documents of the reorganized entities.

As of the Effective Date, the Company’s debtor-in-possession credit facility has been converted into a new exit credit facility. All cash consideration necessary for the Debtors to make payments on today’s Effective Date transactions have been obtained from cash on hand under the new exit credit facility. Pursuant to the terms of the credit agreement governing the exit facility, the reorganized entities may borrow from the new exit credit facility to support their post-bankruptcy financing needs.

GMXR is an exploration and production company. The company is currently developing its Bakken and Three Forks oil shale resources located in the Williston Basin, North Dakota. GMXR’s large natural gas resources are located in the East Texas Basin, primarily in the Haynesville/Bossier gas shale and the Cotton Valley Sand Formation; where the majority of GMXR’s acreage is contiguous, with infrastructure in place and substantially all held by production.

This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that GMXR expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include management’s expectations and desire to address GMXR’s financial challenges, preserve the value of assets and address important issues in an orderly way. These statements are based on certain assumptions and analysis made by GMXR in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes appropriate in the circumstances, including the assumption that there will be no material change in the operating environment for GMXR's properties. In the event that the risks discussed above and disclosed in GMXR’s public filings cause results to differ materially from those expressed in GMXR’s forward-looking statements, GMXR’s business, financial condition, results of operations or liquidity, and the interests of creditors, equity holders and other constituents, could be materially adversely affected. GMXR undertakes no obligation (and expressly disclaims any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual results to materially differ from those projected herein, please refer to GMXR's reports filed with the Securities and Exchange Commission on Form 10-K and 10-Q.


Useful Links

Debtor's Website: http://gmxresources.com

Website Information

An unofficial version of the docket can be accessed through this website by selecting the “Docket” link at the top of this page. In addition, from time to time, certain key documents filed in these cases or otherwise made available by the Debtors will be available by selecting the “Key Documents” link above. Should you have any questions relating to this website, please feel free to contact us at 646.282.2400.

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