Current Report Filing (8-k)

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 8, 2016 

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Escalera Resources Co.

(Exact name of registrant as specified in its charter)

 

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Maryland		1-33571		830214692
(State or other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

1675 Broadway, Suite 2200, Denver, CO		80202
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (303) - 794-8445

Not Applicable

(Former name or former address if changed since last report.)

 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

		¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

		¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

		¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

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Item 7.01.     Regulation FD Disclosure.

On November 5, 2015, Escalera Resources Co. (“Escalera” or the “Company”) filed a voluntary petition in the United States Bankruptcy Court for the District of Colorado (the “Court”) seeking relief under the provisions of Chapter 11 of Title 11 of the United States Code. The Company’s Chapter 11 case is being administered as, In re: Escalera Resources Co., Case No. 15-22395-TBM (the “Bankruptcy Case”). Escalera has continued to operate the business as debtors-in-possession under the jurisdiction of the Court.

On January 8, 2016, the Company filed with the United States Trustee, and subsequently with the Court, its monthly operating report for the period from November 5, 2015 to November 30, 2015 (the “Monthly Operating Report”). The Monthly Operating Report is attached hereto as Exhibit 99.1. 

 

The information in this Current Report on Form 8-K furnished pursuant to Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” by the Company for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section, and they shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. By filing this Current Report on Form 8-K and furnishing this information pursuant to Item 7.01, the Company makes no admission as to the materiality of any information in this Current Report on Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.

 

Item 9.01.Financial Statements and Exhibits.

 

(d)         Exhibits.

 

The following exhibit is furnished with this Current Report on Form 8-K:

 

Exhibit 99.1 – Monthly Operating Report for the period from November 5, 2015 to November 30, 2015

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

		ESCALERA RESOURCES CO.
Date: February 29, 2016		By:		/s/ Adam Fenster
		Name:		Adam Fenster
		Title:		Chief Financial Officer

 

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Exhibit 99.1

DEBTOR(S):Escalera Resources Co.MONTHLY OPERATING REPORT

CHAPTER 11

CASE NUMBER:15-22395-TBM

Form 2-A

COVER SHEET

 

For Period End Date:    November 30, 2015

 

Accounting Method:

X

Accrual Basis

Cash Basis

 

THIS REPORT IS DUE 21 DAYS AFTER THE END OF THE MONTH

Debtor must attach each of the following documents unless the U. S. Trustee

Mark One Box for Eachhas waived the requirement in writing.  File the original with the Clerk of Court.

Required Document:Submit a duplicate, with original signature, to the U. S. Trustee.

Report/Document Attached

Previously Waived

REQUIRED REPORTS/DOCUMENTS

	X					1.  Cash Receipts and Disbursements Statement (Form 2-B)
	X					2.  Balance Sheet (Form 2-C)
	X					3.  Profit and Loss Statement (Form 2-D)
	X					4.  Supporting Schedules (Form 2-E)
	X					5.  Quarterly Fee Summary (Form 2-F)
	X					6.  Narrative (Form 2-G)
	X					7.  Bank Statements for All Bank Accounts
						(Redact all but last 4 digits of account number and remove check images)
	X					8.  Bank Statement Reconciliations for all Bank Accounts
	n/a					9.  Evidence of insurance for all policies renewed or replaced during month

 

I declare under penalty of perjury that the following Monthly Operating Report, and any

attachments thereto are true, accurate and correct to the best of my knowledge and belief.

 

Executed on:1/8/2016 Print Name:Adam Fenster

Signature:/s/ Adam Fenster

Title:Chief Financial Officer

 

 

Rev. 1/15/14

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DEBTOR(S):Escalera Resources Co.CASE NO:15-22395-TBM

Form 2-B

CASH RECEIPTS AND DISBURSEMENTS STATEMENT

For Period:    November 5, 2015 to November 30, 2015

 

CASH FLOW SUMMARY

			Current Month			Accumulated
1.	Beginning Cash Balance	$	10,037,754.37	(1)	$	10,037,754.37	(1)
2.	Cash Receipts
	Operations		1,144,912.14			1,144,912.14
	Sale of Assets		0			0
	Loans/advances		0			0
	Other		0			0
	Total Cash Receipts	$	1,144,912.14		$	1,144,912.14
3.	Cash Disbursements
	Operations		398,424.93			398,424.93
	Debt Service/Secured loan payment		0			0
	Professional fees/U.S. Trustee fees		0			0
	Professional fees paid from retainer (e.g. COLTAF accts)		0			0
	Other		398,424.93			398,424.93
	Total Cash Disbursements	$	398,424.93		$	398,424.93
4.	Net Cash Flow (Total Cash Receipts less  Total Cash Disbursements)		746,487.21			746,487.21
5.	Ending Cash Balance (to Form 2-C)	$	10,784,241.58	(2)	$	10,784,241.58	(2)

 

CASH BALANCE SUMMARY

	Financial Institution		Book Balance
Petty Cash	None	$	0.00
DIP Operating Account	Vectra Bank – 5792483439		743,554.04
DIP State Tax Account	None		0.00
DIP Payroll Account	None		0.00
Other Operating Account	Vectra Bank – 5790706534		9,513,685.40
	American National Bank – 60161310		82,394.29
Retainers held by professionals (i.e. COLTAF)	Per Form 2-E		444,607.85
TOTAL (must agree with Ending Cash Balance above)		$	10,784,241.58	(2)

(1)

Accumulated beginning cash balance is the cash available at the commencement of the case and retainers.

Current month beginning cash balance should equal the previous month's ending balance.

(2)

All cash balances should be the same.Rev. 1/15/14

 

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DEBTOR(S):Escalera Resources Co.CASE NO:15-22395-TBM

 

Form 2-B

CASH RECEIPTS AND DISBURSEMENTS STATEMENT

For Period:    November 5, 2015 to November 30, 2015

 

CASH RECEIPTS DETAIL

Account No:

5792483439

 (attach additional sheets as necessary)

 

Date

Payer

Description

Amount

11/10/2015

Escalera Resources

Transfer from prior operating account

$

385,375.80

11/23/2015

XTO  Energy

Revenue - non-operated properties

2,871.75

11/23/2015

Plains  Marketing, L.P.

Revenue - non-operated properties

343.54

11/24/2015

EnCana  Oil & Gas (USA) Inc

Revenue - non-operated properties

107.77

11/25/2015

Cooperative  Heath Solutions,

Rental sublease income

1,800.00

11/25/2015

Cajun-Ivy  Investments

Joint interest billing reimbursement

104.99

11/25/2015

Black  Bear Oil Corp.

Revenue - non-operated properties

2.62

11/25/2015

Thunder  Oil and Gas

Joint interest billing reimbursement

17.36

11/25/2015

PetroHill  Resources, LLC

Joint interest billing reimbursement

75.08

11/25/2015

Forestar  Petroleum Corp.

Revenue - non-operated properties

1,777.54

11/25/2015

Oasis  Petroleum North America

Revenue - non-operated properties

1,308.30

11/25/2015

Providence  Energy Corp.

Joint interest billing reimbursement

169.63

11/25/2015

PRE  Resources Rockies, L.P.

Revenue - non-operated properties

576.96

11/25/2015

Silver  Creek Oil & Gas, LLC

Joint interest billing reimbursement

288.59

11/25/2015

American  National Bank

Interest income

8.82

11/25/2015

American  National Bank

Interest income

1.76

11/25/2015

EOG  Resources, Inc.

Revenue - non-operated properties

67.78

11/25/2015

Moncrief  Royalty Account

Revenue - non-operated properties

109.18

11/25/2015

Shell  Trading

Revenue - non-operated properties

9,901.66

11/25/2015

Freeport-McMoRan  Oil & Gas LLC

Revenue - non-operated properties

192.33

11/25/2015

Statoil  Oil & Gas LP

Revenue - non-operated properties

4,762.70

11/25/2015

K.P.  Kauffman Company, Inc.

Revenue - non-operated properties

172.69

11/25/2015

Merit  Energy Company

Revenue - non-operated properties

235.68

11/27/2015

ConocoPhillips  Company

Revenue - non-operated properties

29,307.78

11/27/2015

XTO  Energy

Revenue - non-operated properties

620.92

11/30/2015

Vectra Bank

Interest income

1,728.17

11/30/2015

Summit  Energy LLC

Revenue - operated and non-operated properties

702,982.74

Total Cash Receipts

$

1,144,912.14

(1)

 

(1)  Total for all accounts should agree with total cash receipts listed on Form 2-B, page 1Rev. 1/15/14 

 

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DEBTOR(S):Escalera Resources Co.CASE NO:15-22395-TBM

 

Form 2-B

CASH RECEIPTS AND DISBURSEMENTS STATEMENT

For Period:    November 5, 2015 to November 30, 2015

 

CASH DISBURSEMENTS DETAIL

Account No:

5792483439

 (attach additional sheets as necessary)

 

Date

Check No.

Payer

Description

Amount

11/18/15

wire

Discovery Outsourcing

Company payroll - period ending 11/18/15

$

101,541.70

11/20/15

43664

Carol A. Osborne

Employee expense reimbursement

289.73

11/20/15

43665

IMA, Inc.

Bond fees

1,250.00

11/20/15

43666

James T. Albi

Professional fee - Operations Manager

10,000.00

11/20/15

43667

PAETEC

Operating expense

9.78

11/20/15

43668

Rebecca Deck

Employee expense reimbursement

48.26

11/20/15

43669

Rocky's Quik Stop

Operating expense

41.14

11/20/15

43670

Shepard's

Operating expense

318.24

11/20/15

43671

Rosemont WTC Denver

Rent - Denver office

16,217.69

11/20/15

43672

Anadarko E&P Onshore LLC

Joint interest billing payment

14,720.67

11/20/15

43673

BreitBurn Operating LP

Joint interest billing payment

15,652.77

11/20/15

43674

Chaco Energy Co.

Joint interest billing payment

251.40

11/20/15

43675

Charles Chambers

Employee expense reimbursement

155.15

11/20/15

43676

Forestar Petroleum Corp.

Joint interest billing payment

5,009.43

11/20/15

43677

John McDiffett

Employee expense reimbursement

229.48

11/20/15

43678

Memorial Production Operating

Joint interest billing payment

1,621.58

11/20/15

43679

Montex Drilling Company

Joint interest billing payment

2,133.05

11/20/15

43680

Omimex Petroleum Inc

Joint interest billing payment

564.41

11/20/15

43681

PRE Resources Rockies, L.P.

Joint interest billing payment

3,543.56

11/20/15

43682

Robert Belford

Employee expense reimbursement

157.84

11/20/15

43683

Sam Ellis

Employee expense reimbursement

4,782.00

11/20/15

43684

Samantha Quenzer

Employee expense reimbursement

159.28

11/20/15

43685

Samson Resources Company

Joint interest billing payment

1,587.31

11/20/15

43686

Summit Gas Resources, Inc.

Joint interest billing payment

26.22

11/23/15

43688

Burlington Resources

Joint interest billing payment

93,310.59

11/23/15

43689

Natrona County Treasurer

Wyoming License plates

577.26

11/24/15

wire

Discovery Outsourcing

Company payroll - final pay for terminated employees

12,188.21

11/30/15

wire

Office of Natural Resources

Federal lease rental payment

3,756.00

11/30/15

wire

Office of Natural Resources

Federal royalties

107,461.50

11/30/15

n/a

Vectra Bank

Monthly bank fees

820.68

Total Cash Disbursements

$

398,424.93

(1)

 

(1)  Total for all accounts should agree with total cash disbursements listed on Form 2-B, page 1Rev. 1/15/14   

 

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DEBTOR(S):Escalera Resources Co.CASE NO:15-22395-TBM

Form 2-C

COMPARATIVE BALANCE SHEET

For Period Ended:    November 30, 2015

ASSETS			Current Month		Petition Date (1)
Current Assets:
Cash (from Form 2-B, line 5)		$	10,784,241	$	10,037,754
Accounts Receivable (from Form 2-E)			1,702,698		1,843,543
Receivable from Officers, Employees, Affiliates			340,466		408,716
Inventory			2,084,388		1,995,798
Other Current Assets :(List)	Cash held in escrow		303,393		303,393
	Prepaid expenses and deposits		612,733		709,197
	Hedge-related current assets		107,663		203,570
Total Current Assets		$	15,935,583	$	15,501,971
Fixed Assets:
Land		$	1,169,011	$	1,169,011
Building			-		-
Equipment, Furniture and Fixtures			166,203,257		166,099,098
Total Fixed Assets			167,372,268		167,268,109
Less:  Accumulated Depreciation			(107,704,680)		(107,050,551)
Net Fixed Assets		$	59,667,588	$	60,217,558
Other Assets (List):	Investment in Eastern Washakie		5,272,518		5,272,518
	Other assets		104,484		104,484
TOTAL ASSETS		$	80,980,174	$	81,096,531
LIABILITIES
Post-petition Accounts Payable (from Form 2-E)		$	197,190	$	2,548
Post-petition Accrued Professional Fees (from Form 2-E)			-		-
Post-petition Taxes Payable (from Form 2-E)			70,623		-
Post-petition Notes Payable			-		-
Other Post-petition Payable(List):	Accrued revenue payable		187,977		-
	Other accrued liabilities and expenses		137,252		-
Total Post Petition Liabilities		$	593,041	$	2,548
Pre Petition Liabilities:
Secured Debt			42,840,471		42,874,598
Priority Debt			167,840		178,428
Unsecured Debt			11,466,546		11,429,928
Total Pre Petition Liabilities			54,474,858		54,482,954
TOTAL LIABILITIES		$	55,067,899	$	54,485,502
OWNERS' EQUITY
Owner's/Stockholder's Equity		$	82,996,569	$	82,996,569
Retained Earnings – Prepetition			(56,390,659)		(56,385,540)
Retained Earnings - Post-petition			(693,635)		-
TOTAL OWNERS' EQUITY		$	25,912,275	$	26,611,029
TOTAL LIABILITIES AND OWNERS' EQUITY		$	80,980,174	$	81,096,531

(1)

Petition date values are taken from the Debtor's balance sheet as of the petition date or are the values

listed on the Debtor's schedules.REV 1/15/14

 

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DEBTOR(S):Escalera Resources Co.CASE NO:15-22395-TBM

 

Form 2-D

PROFIT AND LOSS STATEMENT

For Period:    November 5, 2015 to November 30, 2015

			Current Month		Accumulated Total (1)
Gross Operating Revenue		$	1,145,556	$	1,145,556
Less:  Discounts, Returns and Allowances			0		0
Net Operating Revenue		$	1,145,556	$	1,145,556
Cost of Goods Sold			668,251		668,251
Gross Profit		$	477,305	$	477,305
Operating Expenses:
Officer Compensation		$	30,714	$	30,714
Selling, General and Administrative			138,375		138,375
Rents and Leases			22,554		22,554
Depreciation, Depletion and Amortization			654,129		654,129
Other (list):			0		0
			0		0
Total Operating Expenses		$	845,772	$	845,772
Operating Income (Loss)		$	(368,467)	$	(368,467)
Non-Operating Income and Expenses
Other Non-Operating Expenses		$	0	$	0
Gains (Losses) on Sale of Assets			0		0
Interest Income			1,450		1,450
Interest Expense			(133,717)		(133,717)
Other Non-Operating Income			0		0
Net Non-Operating Income or (Expenses)		$	(132,267)	$	(132,267)
Reorganization Expenses
Legal and Professional Fees		$	192,902	$	192,902
Other Reorganization Expense			0		0
Total Reorganization Expenses		$	192,902	$	192,902
Net Income (Loss) Before Income Taxes		$	(693,635)	$	(693,635)
Federal and State Income Tax Expense (Benefit)			0		0
NET INCOME (LOSS)		$	(693,635)	$	(693,635)

 

(1)

Accumulated Totals include all revenue and expenses since the petition date.

REV 1/15/14

 

 

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DEBTOR(S):Escalera Resources Co.CASE NO:15-22395-TBM

 

Form 2-E (Page 1 of 2)

SUPPORTING SCHEDULES

For Period:    November 5, 2015 to November 30, 2015

 

Summary of Post-Petition Taxes
	1	2	3	4
Type of tax	Unpaid post-petition taxes from prior reporting month(1)	Post-petition taxes accrued this month (new obligations)	Post-petition tax payments made this reporting month	Unpaid post-petition taxes at end of reporting month (columns 1+2-3)
Federal
Employee income tax withheld	$                              -	12,302	(12,302)	$                              -
Employee FICA taxes withheld	$                              -	5,218	(5,218)	$                              -
Employer FICA taxes	$                              -	5,284	(5,284)	$                              -
Unemployment taxes	$                              -			$                              -
Other:____________________	$                              -			$                              -
State
Sales, use & excise taxes	$                              -			$                              -
Unemployment taxes	$                              -			$                              -
Other:_state income tax withheld	$                              -	1,334	(1,334)	$                              -
Local
Personal property taxes	$                              -			$                              -
Real property taxes	$                              -			$                              -
Other:____________________	$                              -			$                              -
			Total unpaid post-petition taxes	$                              -

 

(1)

For first report, the beginning balance in column 1 will be $0; thereafter, beginning balance will be ending balance from prior report.

Insurance Coverage Summary
Type of insurance	Insurance carrier	Coverage amount	Policy expiration date	Premium paid through date
Workers' compensation - CO	American Zurich	1,000,000	4/1/2016	Paid with each payroll
Workers' compensation - WY	State of WY	WY statutory limits	11/19/2016	Paid with each payroll
General liability	St Paul Fire and Marine	2,000,000	10/1/2016	3/1/2016
Property (fire, theft, etc.)
Vehicle	St Paul Fire and Marine	1,000,000	10/1/2016	3/1/2016
Other (list): Umbrella	St Paul Fire and Marine	10,000,000	10/1/2016	3/1/2016
Other (list): D&O	National Union Fire	15,000,000	7/1/2016	7/1/2016
If any policies were renewed or replaced during reporting period, attach new certificate of insurance.

 

Page 1 of 2

 

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DEBTOR(S):Escalera Resources Co.CASE NO:15-22395-TBM

Form 2-E (Page 2 of 2)

SUPPORTING SCHEDULES

For Period:    November 5, 2015 to November 30, 2015

 

Accounts Receivable Aging Summary (attach detailed aging report)
	30 days or less	31 to 60 days	61 to 90 days	Over 90 days	Total at month end
Pre-petition receivables	162,461	63	84,372	485,783	732,679
Post-petition receivables	970,019				970,019
Total	1,132,480	63	84,372	485,783	1,702,698
Post-Petition Accounts Payable Aging Summary (attach detailed aging report)
	30 days or less	31 to 60 days	61 to 90 days	Over 90 days	Total at month end
Trade Payables	197,190				197,190
Other Payables
Total	197,190				197,190
SCHEDULE OF PAYMENTS TO ATTORNEYS AND OTHER PROFESSIONALS
	Month-end	Current	Paid in
	Retainer	Month's	Current	Court Approval	Month-end
	Balance	Accrual	Month	Date	Balance Due *
Debtor's Counsel	$ 70,000
Counsel for Unsecured
Creditors' Committee
Trustee's Counsel
Accountant
Creditor Counsel	$ 190,286	$ 97,621			$ 97,621
Creditor Advisors	$ 184,322	$ 133,861			$ 133,861
Other:
Total	$ 444,608	$ 231,482			$ 231,482
*Balance due to include fees and expenses incurred but not yet paid.
SCHEDULE OF PAYMENTS AND TRANSFERS TO PRINCIPALS/EXECUTIVES**
Payee Name	Position		Nature of Payment		Amount
Charles Chambers	Chief Executive Officer		Compensation - period ending 11/20/15		$ 11,538
Charles Chambers	Chief Executive Officer		Expense reimbursement		155
Adam Fenster	Chief Financial Officer		Compensation - period ending 11/20/15		7,692
Gary Grinsfelder	Chief Operating Officer		Compensation - period ending 11/20/15		7,692
Carol Osborne	Secretary		Compensation - period ending 11/20/15		3,791
Carol Osborne	Secretary		Expense reimbursement		290
**List payments and transfers of any kind and in any form made to or for the benefit of any proprietor, owner, partner, shareholder, officer, or director.

Page 2 of 2

 

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DEBTOR(S):Escalera Resources Co.CASE NO:15-22395-TBM

Form 2-F

QUARTERLY FEE SUMMARY *

For Month Ended:           November 30, 2015

 

					Cash		Quarterly				Date
Month		Year			Disbursements **		Fee Due		Check No.		Paid
January				$	$ 0
February					$ 0
March					$ 0
	TOTAL 1st Quarter			$	$ 0	$
April				$	$ 0
May					$ 0
June					$ 0
	TOTAL 2nd Quarter			$	$ 0	$
July				$	$ 0
August					$ 0
September					$ 0
	TOTAL 3rd Quarter			$	$ 0	$
October		2015		$	$ 0
November		2015			$ 398,425
December		2015			$ 0
	TOTAL 4th Quarter			$	$ 398,425	$	$ 1,950
FEE SCHEDULE (as of JANUARY 1, 2008)
Subject to changes that may occur to 28 U.S.C. §1930(a)(6)
Quarterly Disbursements				Fee			Quarterly Disbursements				Fee
$0 to $14,999.....................				$ 325			$1,000,000 to $1,999,999....................				$ 6,500
$15,000 to $74,999.............				$ 650			$2,000,000 to $2,999,999...................				$ 9,750
$75,000 to $149,999.............				$ 975			$3,000,000 to $4,999,999.....................				$ 10,400
$150,000 to $224,999.........				$ 1,625			$5,000,000 to $14,999,999 …….				$ 13,000
$225,000 to $299,999..........				$ 1,950			$15,000,000 to $29,999,999….				$ 20,000
$300,000 to $999,999.........................				$ 4,875			$30,000,000 or more				$ 30,000

* This summary is to reflect the current calendar year's information cumulative to the end of the reporting period

** Should agree with line 3, Form 2-B.  Disbursements are net of transfers to other debtor in possession bank accounts

 

Failure to pay the quarterly fee is cause for conversion or dismissal of the chapter 11 case. [11 U.S.C. Sec. 1112(b)(10)]

In addition, unpaid fees are considered a debt owed to the United States and will be assessed interest under 31 U.S.C. §3717

Rev. 1/15/14

 

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DEBTOR(S):Escalera Resources Co.CASE NO:15-22395-TBM

 

Form 2-G

NARRATIVE

For Period Ended:    November 30, 2015

 

Please provide a brief description of any significant business and legal actions taken by the debtor, its creditors, or the court during the reporting period, any unusual or non-recurring accounting transactions that are reported in the financial statements, and any significant changes in the financial condition of the debtor which have occurred subsequent to the report date.

 

On November 5, 2015, Escalera Resources Co. (the “Company”) filed a voluntary petition in the United States Bankruptcy Court for the District of Colorado (the “Court”) seeking relief under the provisions of Chapter 11 of Title 11 of the United States Code. The Company’s Chapter 11 case is being administered as, In re: Escalera Resources Co., Case No. 15-22395-TBM (the “Bankruptcy Case”). The Company will continue to operate the business as debtors-in-possession under the jurisdiction of the Court.

 

From November 5th through November 30th, there were no unusual or non-recurring accounting transactions reflected in the accompanying financial statements.

 

The Company's final order authorizing the use of postpetition cash collateral order was granted on December 2, 2015. Subsequent to November 30, 2015, there have been no significant changes in the Company's financial condition, nor have there been any significant events that have occurred.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rev. 1/15/14

 

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