Bracewell Represents Wells Fargo in Extraction Oil & Gas Financial Restructuring

HOUSTON – Bracewell LLP represented Wells Fargo Bank, National Association, as agent for the prepetition senior credit facility, in the debtor in possession credit facility and the new reserve based lending credit facility in place at Extraction Oil & Gas’ emergence from bankruptcy. Extraction’s capital structure now includes a new $1 billion reserve based lending facility with an initial borrowing base of $500 million.

Extraction is a Denver-based independent energy company focused on developing and producing crude oil, natural gas and natural gas liquids in the Denver-Julesburg Basin of Colorado.

Bracewell lawyers involved in the transactions included:

Partners: William A. (Trey) Wood III, Mark E. Dendinger, Dewey J. Gonsoulin Jr., Heather L. Brown, Timothy A. Wilkins, and George D. Fatula

Counsel: Jennifer N. Dill

Associates: Robert Grattan, Kenni E. Callahan, Finney Abraham, Sidney Nuñez, Hobie Temple, Kathryn F. Penry, Catherine B. Engell, Jonathan Lozano, Caroline W. Ellis and Derek Reusche