Provident Royalties, LLC Files For Chapter 11

Yesterday, June 22^nd, Provident Royalties, LLC filed for Chapter 11 bankruptcy protection at the US Bankruptcy Court for the Northern District of Texas. The debtor was joined in Chapter 11 by several related entities, including Provident Operating Company LLC.

The Dallas, TX-based debtor listed assets of $1 to $10 million and liabilities of $100 to $500 million on its petition. Some of the debtor’s largest unsecured creditors include Devon Energy Production Company, L.P. (owed $2 million), Questar Exploration & Western Midcontinent Division Production Co. (owed $1 million) and Adair Land & Leasing (also owed $1 million). The debtor acquires and invests in leasehold and mineral interests, with a primary focus in Oklahoma.