Osage Exploration and Development, Inc. Bankruptcy New Filing Alert: Motion For Authority To Obtain Debtor-In-Possession Financing

On February 4, 2016, a motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Osage Exploration and Development, Inc. and its affiliates.

The filing was assigned docket number 10 and is described on the court’s official docket as follows:

Motion for Interim and Final Orders (A) Authorizing the Debtor to Use Cash Collateral, (B) Authorizing the Debtor to Obtain Post-Petition Financing, (C) Granting Superpriority Security Interests and Superpriority Administrative Expense Status to the Lender, (D) Granting Adequate Protection to Existing Lienholders, (E) Scheduling a Final Hearing, and (F) Granting Related Relief Filed by Mark A. Craige of Crowe & Dunlevy on behalf of Osage Exploration and Development, Inc.. Hearing to be held on 2/9/2016 at 09:30 AM 9th Floor Courtroom, 215 Dean A. McGee Avenue, Oklahoma City, OK (Attachments: # 1 Exhibit A – Proposed Order # 2 Exhibit B – DIP Loan Term Sheet)(Craige, Mark) (Entered: 02/04/2016)

Osage Exploration and Development, Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on February 3, 2016. The bankruptcy case is pending before the United States Bankruptcy Court for the Western District of Oklahoma . The case number for the lead bankruptcy case is 16-10308. The bankruptcy case is currently assigned to United States Bankruptcy Judge Sarah Hall. The law firm of Crowe & Dunlevy, PC is acting as lead bankruptcy counsel to Osage Exploration and Development, Inc. in the bankruptcy case.


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