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    Chapter 11 Dockets
    This document summarizes an order from the United States Bankruptcy Court for the District of Delaware regarding Pacific Energy Resources Ltd. and related debtors. The debtors had filed a motion for authority to pay pre-petition and post-petition royalty obligations. Several parties filed responses and objections. At a hearing, the debtors withdrew the motion except as to the DIP lenders and their affiliates. The proposed revised order, which has been agreed to by the parties, authorizes the debtors to pay pre-petition amounts due to the DIP lenders for their royalty interests and honor post-petition obligations to the DIP lenders, provided no proceeds from certain units are used for such payments without further court

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    10000015201

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    Chapter 11 Dockets
    28 views9 pages
    This document summarizes an order from the United States Bankruptcy Court for the District of Delaware regarding Pacific Energy Resources Ltd. and related debtors. The debtors had filed a motion for authority to pay pre-petition and post-petition royalty obligations. Several parties filed responses and objections. At a hearing, the debtors withdrew the motion except as to the DIP lenders and their affiliates. The proposed revised order, which has been agreed to by the parties, authorizes the debtors to pay pre-petition amounts due to the DIP lenders for their royalty interests and honor post-petition obligations to the DIP lenders, provided no proceeds from certain units are used for such payments without further court

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    This document summarizes an order from the United States Bankruptcy Court for the District of Delaware regarding Pacific Energy Resources Ltd. and related debtors. The debtors had filed a motion for authority to pay pre-petition and post-petition royalty obligations. Several parties filed responses and objections. At a hearing, the debtors withdrew the motion except as to the DIP lenders and their affiliates. The proposed revised order, which has been agreed to by the parties, authorizes the debtors to pay pre-petition amounts due to the DIP lenders for their royalty interests and honor post-petition obligations to the DIP lenders, provided no proceeds from certain units are used for such payments without further court

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    28 views9 pages

    10000015201

    Uploaded by

    Chapter 11 Dockets
    This document summarizes an order from the United States Bankruptcy Court for the District of Delaware regarding Pacific Energy Resources Ltd. and related debtors. The debtors had filed a motion for authority to pay pre-petition and post-petition royalty obligations. Several parties filed responses and objections. At a hearing, the debtors withdrew the motion except as to the DIP lenders and their affiliates. The proposed revised order, which has been agreed to by the parties, authorizes the debtors to pay pre-petition amounts due to the DIP lenders for their royalty interests and honor post-petition obligations to the DIP lenders, provided no proceeds from certain units are used for such payments without further court

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    of 9

    IN THE UNITED STATES BANKRUPTCY COURT

    FOR THE DISTRICT OF DELA WARE

    In re:
    PACIFIC ENERGY RESOURCES LTD., et al., i

    ) )
    )

    Chapter 11

    Debtors.

    ) )

    Case No. 09-10785(KJC) (Jointly Administered)


    Related Docket No. 15

    Deadline for Objections: May 27, 2009 at 4:00 p.m. prevailng Eastern time Hearing Date: June 3, 2009 at 1 :00 p.m. prevailng Eastern time

    PRE

    CERTIFICATION OF COUNSEL WITH RESPECT TO ORDER GRANTING IN PART DEBTORS' EMERGENCY MOTION FOR AUTHORITY TO PAY OR HONOR PETITION AND POSTPETITION OBLIGATIONS TO ROYALTY INTERESTS
    On March 9, 2009, Pacific Energy Resources, et at. (the "Debtors") fied Debtors'

    Emergency Motionfor Authority to Payor Honor Pre

    petition and Post

    petiton Obligations to

    Royalty Interests (Docket No. 15) (the "Motion").


    In response thereto the following responses and objections were fied by: (i)

    United States on behalf of

    the Department ofInterior, Minerals Management Service and Bureau

    of

    Land Management (Docket No. 126); (ii) Medema Family Trust (Docket No. 151); (iii)

    Official Committee of

    Unsecured Creditors (Docket No. 223); (iv) Aera Energy LLC (Docket

    No. 225); (v) Union Oil Company of California (Docket No. 226); (vi) Noble Energy, Inc.
    (Docket No. 228) and (vii) Cook Inlet Region, Inc. (Docket No. 296).

    At a hearing on the Motion held June 3, 2009 the Debtors withdrew the Motion
    with respect to all parties except the DIP Lenders and their Affiiates. A copy of

    the proposed

    i The Debtors in these cases, along with the last four digits of each of the Debtors' federal tax identification number, are: Pacific Energy Resources Ltd. (3442); Petrocal Acquisition Corp. (6249); Pacific Energy Alaska Holdings, LLC (tax LD. # not available); Cameros Acquisition Corp. (5866); Pacific Energy Alaska Operating LLC (7021); San Pedro Bay Pipeline Company the Debtors is 1 i i W. Ocean (1234); Cameros Energy, Inc. (9487); and Gotland Oil, Inc. (5463). The mailing address for all of

    Boulevard, Suite i 240, Long Beach, CA 90802.

    revised order which reflects the modified relief requested in the motion and which has been

    agreed to by the parties is attached hereto as Exhibit A. A blackline of the order is attached
    hereto as Exhibit B.

    The Debtors respectfully request that the Court enter the attached form of
    proposed revised order at its earliest convenience.

    Should the Court have any questions regarding the proposed revised order, the
    Debtors stand ready to respond.
    Dated: June 9, 2009

    PACHULSKI STANG ZIEHL & JONES LLP

    a a Davis Jones (DE Bar No. 2436)

    D. Kharasch (CA Bar No. 109084) Scotta E. McFarland (DE Bar No. 4184, CA Bar No. 165391) Robert M. Saunders (CA Bar No. 226172) James E. O'Neill (DE Bar No. 4042) Kathleen P. Makowski (DE Bar No. 3648) 919 North Market Street, 1 ih Floor P.O. Box 8705 Wilmington, DE 19899-8705
    Telephone: 302/652-4100

    Facsimile: 310/652-4400
    Email: liones~pszilaw.com

    ikharasch~pszilaw .com
    smcfarland(0pszi law .com rsaunders(0pszi law .com

    ioneill~pszilaw.com kmakowski(0pszilaw.com
    Counsel for Debtor and Debtor in Possession Pacific Energy Resources Ltd.

    DOCS_DE:

    149054. 1

    EXHIBIT A

    42125-001\DOCS_DE:6375.1

    In re: )

    IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELA WARE
    Chapter 11

    PACIFIC ENERGY RESOURCES LTD., et at,! )

    Debtors. )

    Case No. 09-10785 (KJC) (Jointly Administered)


    Related to Docket No. 15

    ORDER GRANTING IN PART DEBTORS' EMERGENCY MOTION FOR AUTHORITY TO PAY OR HONOR PREPETITION AND POSTPETITION OBLIGATIONS TO ROYALTY INTERESTS
    Upon consideration of the motion (the "Motion,,)2 of the debtors and debtors-in-

    possession (the "Debtors") for Authority to Payor Honor Pre-Petition Obligations to Royalty

    Interests; and upon the Affidavit of Gerald A. Tywoniuk, Chief Financial Officer of Pacific
    Energy Resources, Ltd., In Support of First Day Motions (the "Affidavit"); and notice of the
    Motion having been sufficient and appropriate under the circumstances; and it appearing that the

    relief requested in the Motion is essential to the ongoing operations of the Debtors, is in the best

    interests of the Debtors, their estates, creditors and other parties in interest, and may be
    authorized pursuant to Section 105(a) of

    the Bankuptcy Code; and the Court being informed that

    the Debtors have withdrawn part of the relief requested in the Motion without prejudice; and
    after due deliberation and suffcient cause appearing therefor, it is hereby

    i The Debtors in these cases, along with the last four digits of each of the Debtor's federal tax identification
    number, are: Pacific Energy Resources Ltd. (3442); Petrocal Acquisition Corp. (6249); Pacific Energy Alaska

    Holdings, LLC (tax J.D. # not available); Cameros Acquisition Corp. (5866); Pacific Energy Alaska Operating LLC (7021); San Pedro Bay Pipeline Company (1234); Cameros Energy, Inc. (9487); and Gotland Oil, Inc.
    (5463). The mailing address for all of the Debtors is ILL W. Ocean Boulevard, Suite l240,LongBeach,CA

    90802.

    2 Capitalized terms shall have the meaning ascribed to them in the Motion.

    701572701v1

    ORDERED that the Motion is withdrawn in part and granted in part as provided
    herein; and it is further

    ORDERED that the Debtors are authorized, in their discretion, to deliver to the
    DIP Agents on behalf of the DIP Lenders (each as defined in the Interim Order Pursuant to 11
    U.S.c. 105, 361, 362, 363, 364, 365 And 507: (1) Approving Senior Secured Superpriority

    Postpetition Financing; (2) Authorizing Use of Cash Collateral; (3) Granting Liens and Providing

    Superpriority Administrative Expense Status; (4) Granting Adequate Protection; (5) Modifying

    Automatic Stay; And (6) Scheduling a Final Hearing (Docket NO. 42; Entered 3/10/2009)) the
    prepetition amounts due them for their respective ORR and to honor postpetition ORRI

    obligations to the DIP Agents on behalf of the DIP Lenders, provided that no proceeds of
    production from the Trading Bay Unit and the Trading Bay Field shall be used to pay any
    prepetition or post petition ORRI obligations unless otherwise ordered by this Court; and it is
    further
    ORDERED that the balance of the relief

    requested in the Motion is withdrawn by

    the Debtors without prejudice; and it is further

    ORDERED that the Debtors are authorized and empowered to take such actions
    as may be reasonably necessary to implement and effectuate this Order.

    Dated:

    ,2009

    The Honorable Kevin J. Carey

    2
    701572701v1

    EXHIBIT B

    42125-001\DOCS_DE:6375.1

    In re: )

    IN THE UNTED STATES BANUPTCY COURT FOR THE DISTRICT OF DELAWAR


    Chapter 11

    ) )

    PACIFIC ENERGY RESOURCES LTD., et at,! )

    Debtors. )

    Case No. 09-10785 (KJC) (J ointly Administered)


    Related to Docket No. 15

    ORDER GRATING IN PART DEBTORS' EMERGENCY MOTION FOR AUTHORITY TO PAY OR HONOR PREPETITION AND POSTPETITION OBLIGATIONS TO ROYALTY INTERESTS
    Upon consideration of the motion (the "Motion")2 of the debtors and debtors-in-

    possession (the "Debtors") for Authority to Payor Honor Pre-Petition Obligations to Royalty

    Interests ; and upon the Affdavit of Gerald A. Tywoniuk, Chief Financial Offcer of Pacific
    Energy Resources, Ltd., In Support of First Day Motions (the "Affidavit"); and notice of the
    Motion having been suffcient and appropriate under the circumstances; and it appearing that the relief requested in the Motion is essential to the ongoing operations of the Debtors, is in the best

    interests of the Debtors, their estates, creditors and other parties in interest, and may be
    authorized pursuant to Section 105(a) of

    the Bankptcy Code; and the Court heing informed that

    the Dehtors have withdrawn part of the relief requested in the Motion without preiudice: and
    after due deliberation and sufficient cause appearing therefor, it is hereby

    ORDERED that the Motion is withdrawn in part and granted in part as provided
    herein; and it is further

    1 The Debtors in these cases, along with the last four digits of

    the Debtor's federal tax identification each of number, are: Pacific Energy Resources Ltd. (3442); Petrocal Acquisition Corp. (6249); Pacific Energy Alaska Holdings, LLC (tax J.D. # not available); Cameros Acquisition Corp. (5866); Pacific Energy Alaska Operating LLC (7021); San Pedro Bay Pipeline Company (1234); Cameros Energy, Inc. (9487); and Gotland Oil, Inc.
    (5463). The mailing address for all of the Debtors is 111 w. Ocean Boulevard, Suite 1240,LongBeach,CA

    90802. 2 Capitalized term shall have the meanig ascribed to them in the Motion.
    68773001\ 70!S72701vl

    DOCS_DE:l4149167.1

    ORDERED that the Debtors are authorized, in their discretion, to deliver to the
    Royalty Owners and the ORR OwnersDIP Agents on hehalfofthe DIP Lenders (each as defined

    in the Interim Order Pursuant to 11 U S.C. SS 105. 361. 362 363. 364. 365 And 507: (1)
    Approving Senior Secured Supei:riority Postpetition Financing: (2) Authorizing Use of Cash
    Collateral: (3) Granting Liens and Providing Supei:riority Administrative Expense Status: (4)

    Granting Adequate Protection: (5) Modifving Automatic Stay' And (6) Scheduling a Final

    Hearing (Docket NO. 42: Entered 3/1 0/2009)) the prepetition amounts due them for their
    respective Royalty and ORR and to honor postpetition obligations to Royalty Owners and ORR

    OwnersORRI ohligations to the DIP Agents on hehalf of the DIP Lenders. provided that no
    proceeds of

    production from the Trading Bay Unit and the Trading Bay Field shall he used to pay

    any pr~etition or post petition ORRI ohligations unless otherwise ordered hy this Court; and it is
    further
    ORDERED that the halance of the relief

    requested in the Motion is withdrawn hy

    the Dehtors without preiudice: and it is further

    ORDERED that the Debtors are authorized and empowered to take such actions
    as may be reasonably necessary to implement and effectuate this Order.

    Dated:

    ,2009

    The Honorable Kevin J. Carey

    68773 001\2,
    701 572701 vI i149167 1

    DOCS_DE:~

    Document comparison done by Workshare DeltaView on Tuesday, June 09,2009 8:43:32 AM


    I np.ut: Document 1 Document 2
    cdocs://docs de/149168/1 cdocs://docs de/149167/1

    Renderin set
    Legend:

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    Cou nt 13 10
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