Result: Successful confirmation of Debtor’s plan of reorganization
Industry: Oil & Gas (Natural Gas Producer/Processing Plant)
Client: Debtor in Possession – Co-Counsel with the Late Honorable Bankruptcy Judge T. Glover Roberts, Bankr, S.D. Miss.
Court: United States Bankruptcy Court, Southern District of Mississippi
Traditions run deep in this family since the legendary H.L. Hunt made oil the family business in the 1920s. Today it is a global energy company based in Dallas and known as Petro-Hunt LLC. Then known as Hunt Oil, the company took out its first lease in North Dakota in 1948, and it was one of the first to strike oil in the early 1950s near Tioga. H.L.’s son, Herbert, first came to North Dakota to work in 1951.
The company has remained in the state ever since, pioneering new technology and production advancements, such as the first medium-radius double-horizontal well with each horizontal having dual laterals, which it drilled in North Dakota in 1998.
Herbert’s sons, Bruce, Doug and David, who now head Petro-Hunt, all worked in North Dakota to gain experience in the business.