Enduro Resource Partners LP, a private equity-backed oil and gas producer, has filed for bankruptcy protection as part of an agreement with lenders to sell its properties and liquidate the business, WSJ Pro Bankruptcy reported. Enduro and its affiliates filed for chapter 11 protection Tuesday in Wilmington, Del., after reaching agreement with senior and junior lenders owed about $350 million. The company was founded in 2010 by energy investment firm Riverstone Holdings LLC. A publicly traded trust that holds an interest in certain Enduro properties isn’t part of the bankruptcy, the company said. Enduro, based in Fort Worth, Texas, said that it began a sale process for its assets in January and comes to court with deals to sell portions of those assets for $77.5 million, subject to higher or better bids. Any sale has to be approved by a bankruptcy judge. Enduro is seeking to establish a deadline of about seven weeks for receiving new bids, court papers say.
