Templar Energy and Tapstone Energy executed an Asset Purchase Agreement (APA) dated June 22, 2020, according to case records examined online. Tapstone’s offer of $65 Million will serve as the “Stalking Horse Bid,” and Tapstone is positioned to receive a $1.95 million termination fee should another offer be chosen by Templar at July’s bankruptcy auction.
- Templar Energy filed for chapter 11 bankruptcy on June 1, 2020.
- Tapstone Energy completed financial restructuring on April 20, 2020. Tapstone received a four-year secured term loan of approximately $145 million. Additionally Kennedy Lewis Investment Management, LLC is investing $50 million of new capital in the form of preferred equity in Tapstone to pursue acquisitive growth in the Mid-Continent region.
We dove deeper into this potential transaction to get better insights into Templar and Tapstone’s current assets with the help of WellDatabase’s easy to use platform.
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