Enduro Resource Partners LLC has a deal to sell undeveloped oil and gas properties in northern Louisiana to Comstock Resources Inc. for $20 million, subject to better offers, WSJ Pro Bankruptcy reported. The private equity-backed oil and gas producer on Thursday filed a stalking horse purchase agreement with a Comstock affiliate. The deal, which must be approved by a judge, sets a floor on the price for the Louisiana properties at a potential auction. When Enduro Resource filed for chapter 11 protection last month, the company already had three purchase agreements in hand to sell other properties in Louisiana, North Dakota and Wyoming. Enduro Resource said in a court filing earlier this week that the aggregate value of its now-four stalking horse purchase agreements is $97.5 million.
