Item Id: Warner01
Case Name: Warner, Curtis L & Karen L
Case Number: 12 32988
Trustee:
Starting Minimum Bid: $9,995
Description: Estate’s interest in 1 share in Ridgewood Energy X Fund, LLC. The share percentage represents 0.00209643% in the Energy X Fund. The fund owns a working interest in some oil and gas leases.
Ridgewood Energy is a private equity firm focused on investments in the Deepwater Gulf of Mexico. With more than two decades of experience investing in Gulf of Mexico oil and gas projects, Ridgewood Energy has earned its reputation as a reliable, professional, value-adding project partner to many leading energy companies. Ridgewood Energy applies a highly-disciplined evaluation process across a broad range of opportunities, and selects only those projects that meet the firm’s high standards for investment. Ridgewood participates in annual Federal offshore lease sales alongside industry partners. Ridgewood also acquires leasehold interests and participate in projects that exhibit compelling prospectivity.
As of 6/1/16, the debtors have received a combined total of $51,000 in payment royalties as a result of their original investment in Energy X Fund. The payment stream documentation will be linked to the auction when conducted.
Upon completion of the auction, a stock transfer assignment will be provided to the winning bidder. That new assignment must be submitted to Ridgewood Energy under the provisions of their document on the Energy X Fund (Article 9, Section 9.4) which permits ownership transfer due to bankruptcy filing by the share owner(s)
Location Info: Ridgewood Energy is headquartered in Montvale, New Jersey, outside of Newark. The SEC prohibits foreign investors from owning any interest. Ridgewood states potential buyers must meet specific financial criteria as required by the SEC (a minimum of $2,000,000 net worth excluding the value of a primary residence).
Liens: We do not know of any other liens.
*Picture is of general area, not representative of actual property.*
Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an offer..