CDX Gas, LLC Seeks to Restructure Secured Senior, Secured Junior, and Unsecured Subordinated Obligations with Voluntary Chapter 11 Petition

HOUSTON--(BUSINESS WIRE)--CDX Gas, LLC, together with certain of its affiliated entities and subsidiaries (collectively, the “Company”), announced today that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code, in the United States Bankruptcy Court for the Southern District of Texas, Houston Division. The Company will continue normal business operations throughout the bankruptcy process while it develops a reorganization plan with its senior and junior secured lenders, as well as its senior subordinated note holders, to restructure debt and to resolve liquidity issues.

Headquartered in Houston, Texas, the Company is an independent gas company focused on the exploration, development, and production of onshore North American unconventional natural gas resources located in coal, shale, and tight gas sandstone formations. Its development activities span major basins of the United States. The Company owns an impressive portfolio of proprietary and environmentally friendly horizontal drilling and completion technology, and has more than 60 patents awarded in the United States, and 40 international patents in numerous countries. The Company is a technological, strategic and environmental leader in the extraction of methane from coal beds (CBM) and other unconventional reservoirs.