Maverick Natural Resources, LLC, announced yesterday that it began operating on April 6, 2018, after it emerged from chapter 11 as the successor to Breitburn Energy Partners LP, according to a company press release. As a result of the restructuring process, Maverick has debt of approximately $105 million, which is substantially lower than Breitburn’s $2.96 billion debt balance prior to initiating the restructuring process. Maverick has approximately $295 million of additional borrowing capacity under a new bank credit facility. Maverick is majority-owned and controlled by funds and accounts managed by EIG Global Energy Partners.
