Beruflich Dokumente
Kultur Dokumente
In re:
) Chapter 11
Debtor.
Requested Deadline for Objections to Sale Procedures: June 24, 2009 at 4:00 p.m. Requested Hearing Date on Sale Procedures: July 1, 2009 at 10:00 a.m.
DEBTORS' MOTION TO SET A HEARNG DATE AND SHORTEN NOTICE ON DEBTORS' MOTION FOR AN ORDER (A) APPROVING PROCEDURES FOR SALE OF THE DEBTORS' ALASKA ASSETS; (B) SCHEDULING AUCTION AND HEARNG TO CONSIDER APPROVAL OF SALE; (C) APPROVING NOTICE OF RESPECTIVE DATES, TIMES, AND PLACES FOR AUCTION AND FOR HEARNG ON APPROVAL OF (I) SALE AND (II) ASSUMPTION AND ASSIGNMENT OF CERTAIN EXECUTORY CONTRACTS AND UNEXPIRED LEASES; (D) APPROVING
("PEAR"), Pacific Energy Alaska Operating LLC ("PEAO") and the other above-captioned
debtors and debtors in possession (collectively, the "Debtors") hereby move this Cour (the "Motion to Shorten") for an Order fixing a hearng date and shortening the notice period for
Debtors' Motion for an Order (A) Approving Procedures for Sale of the Debtors' Alaska Assets;
The Debtors in these cases, along with the last four digits of each 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 P~dru Bay Pipdin~ Cumpany (1234); Cam~rus Energy, me. (9487); and Gotland Oil, me. (5463). The address for all of the Debtors is 111 W. Ocean
Boulevard, Suite 1240, Long Beach, CA.
2 Capitalized terms that are not expressly defined herein shall have the meanings ascribed to such terms in
the proposed Purchase and Sale Agreement (the "Agreement") between PEAO and PEAR, on the one hand, and the Successful Bidder (defined in the Sale Procedures Motion, as such term is defined herein) for the Alaska Assets, on the other hand, substantially in the form attached to the Sale Procedures Motion as Exhibit A.
68773-002\DOCS _ LA:202498. 7
(B) Scheduling Auction and Hearing to Consider Approval of Sale; (C) Approving Notice of
Respective Dates, Times, and Places for Auction and for Hearing on Approval of (1) Sale and (II)
Assumption and assignment of Certain Executory Contracts and Unexpired Leases; (D)
Approving Forms of
The Sale Procedures Motion was fied on the date hereof. Debtors' counsel served the
Sale Procedures Motion by email, fax, via delivery service or first-class U.S. mail on the
following: (i) the Office ofthe United States Trustee; (ii) counsel to the Official Committee of
Unsecured Creditors; (iii) counsel to the Debtors' prepetition and postpetition lenders; and (iv)
those persons who have requested notice pursuant to Rule 2002 of
requested, no
By the Sale Procedures Motion, the Debtors seek, among other things, approval ofthe
proposed sale procedures substantially in the form set forth in Exhibit B thereto (the "Sale
Procedures") through which they shall determine, in consultation with their debtor in possession
financing lenders (the "Lenders") and the Offcial Committee of
in these cases (the "Committee"), the highest and best offer for (A) oil and gas production assets
located in Alaska (and related assets and contracts) owned by PEAO and (B) stock owned by
PEAR in a nondebtor corporation that owns a pipeline and terminallng facilities in Alaska.
Also, by the Sale Procedures Motion, the Debtors also seek to confirm the date, time and
place of (1) each Auction (as such term is defined in the Sale Procedures) and (2) the hearng to
3 Unless otherwise defined herein, all capitalized terms shall have the meanings ascribed to them in the
Sale Procedures Motion.
68773-002\DOCS _ LA:202498.7
Additionally, by the Sale Procedures Motion, the Debtors also seek approval of (a) the
proposed Notice of Sale Procedures, Auction and Sale Hearing substantially in the form attached
to the Sale Procedures Motion as Exhibit C for service after entr ofthe Sale Procedures Order
on the regular service list; (b) the proposed Notice of Auction and Sale Hearing substantially in
the form attached to the Sale Procedures Motion as Exhibit D for service after entry of
the Sale
parties to Executory Contracts and
Unexpired Leases that May Be Assumed and Assigned, including proposed cure amounts,
attached to the Sale Procedures Motion as Exhibit E for service after entry of
Motion, this Motion to Shorten is based on the need to (a) minimize the Debtors' losses and
protect the value of
the business as a going concern and (b) meet deadlines set forth in an
amendment to the credit agreement (the "Credit Agreement Amendment") anticipated by this
Cour's final order approving the Debtors' debtor in possession loan facility ("DIP Financing
Facility"). The Debtors have incured, and continue to incur, signficant losses with respect to
the Alaska Assets and are unable to generate sufficient positive cash flow to sustain their on-
going operations. Since the Petition Date, these losses have either remained accrued and unpaid
or have been fuded through borrowings under the DIP Financing Facility. As set forth in the
Credit Agreement Amendment, the Debtors must meet a strict schedule for attempting to sell the
Alaska Assets or abandon them: (a) a June 16,2009 deadline to file motion to approve sale to
stalkng horse and associated procedures or, if no stalkng horse, this Motion to approve the Sale
Procedures; (b) a July 16, 2009 deadline for entr of the Sale Procedures Order requested by this
Motion; (c) a July 20,2009 deadline for the Auctions requested by this Motion; (d) a July 27,
68773-002\DOCS _ LA:202498.7
2009 deadline for entr of the Sale Order; ( e) an August 4, 2009 deadline for closing of any
sales (or such later date as may be necessary to obtain regulatory approvals). The Credit
Agreement Amendment also requires the Debtors to file a motion to abandon the Nonoperated
Alaska Interests by June 16,2009 as an alternative to the proposed sale of the Alaska Assets,
notice procedure described herein and fixing the hearng on the Sale Procedures Motion for July
1,2009, at 10:00 a.m. prevailng Eastern time, which is the next regularly scheduled omnbus
hearng date and time in theses cases, and requiring that objections, if any, to the Sale Procedures
Motion must be filed with the Cour and served upon counsel
Procedure Motion by June 24, 2009, at 4:00 p.m. prevailng Eastern time, which is the regular
date for objections to motions set to be heard at the July 1, 2009 omnbus hearng in these cases
pursuant to this Cour's Local Rule 9006-1(c)(iii). By setting the hearng on the Sale Procedure
Motion for July 1, 2009, the Debtors would be able to hold the Auctions on July 20,2009 and
could provide regular notice ofthe Sale Hearing if
for entr of
is served by first class mail and 16 days' notice of a hearng in the event a motion is served by
overnght delivery. This Motion to Shorten and the Sale Procedures Motion wil be served on
June 16, 2009 by hand delivery, overnght carer, facsimile transmission and/or electronic mail,
providing 15 days' notice of the requested hearg on the Sale Procedures Motion. Insofar as the
proposed objection deadline provides possible respondents suffcient time to respond, any
possible prejudice is minimaL.
68773-002\DOCS _ LA:202498.7
Plaintiff also proposes to serve any Order entered by the Cour on the Motion to Shorten
by hand delivery, overnght carer, facsimile transmission, and/or electronic mail upon (i) the
Office ofthe United States Trustee; (ii) counsel to the Official Committee of
Unsecured
Creditors; (iii) counsel to the Debtors prepetition and postpetition lenders; and (iv) those persons
who have requested notice pursuant to Rule 2002 of the Federal Rules of
Banptcy Procedure;
respectfully submit that the notice procedure described above is suffcient to provide paries in
interest an opportity to review and, if necessary, respond to the Sale Procedures Motion.
Accordingly, under the circumstances, the Debtors submit that shortening the time for notice on
the Sale Procedures Motion in accordance with the foregoing wil not prejudice the rights of any
party in interest.
WHEREFORE, the Debtors respectfully request the entry of an Order approving the
shortening of notice, fixing deadlines for responding to the Sale Procedures Motion, scheduling a
hearing on the Sale Procedures Motion, fixing a deadline for submitting bids, fixing an auction
date, fixing deadlines for the Debtors' sale motion and objections thereto, and scheduling a
hearing date on approval of sale, as requested above.
68773-002\DOCS _ LA:202498.7
By
. Kharasch (CA Bar 0.109084) es E. O'Neil (Bar No. 4042) obert M. Saunders (CA Bar No. 226172) 919 North Market Street, 1 ih Floor P.O. Box 8705 Wilmington, DE 19899-8705
Telephone: 302/652-4100
Facsimile: 310/652-4400
68773-002\DOCS _ LA:202498.7
In re:
) Chapter 11
ORDER GRATING DEBTORS' MOTION TO SET A HEARNG DATE AND SHORTEN NOTICE ON DEBTORS' MOTION FOR AN ORDER (A) APPROVING PROCEDURES FOR SALE OF THE DEBTORS' ALASKA ASSETS; (B) SCHEDULING AUCTION AND HEARNG TO CONSIDER APPROVAL OF SALE; (C) APPROVING NOTICE OF RESPECTIVE DATES, TIMES, AND PLACES FOR AUCTION AND FOR HEARNG ON APPROVAL OF (I) SALE AND (II) ASSUMPTION AND ASSIGNMENT OF CERTAIN EXECUTORY CONTRACTS AND UNEXPIRED LEASES; (D) APPROVING FORMS OF NOTICE: AND (E) GRATING RELATED RELIEF
Upon consideration of Debtors' Motion to Set a Hearing Date and Shorten Notice
on Debtors' Motion for an Order (A) Approving Procedures for Sale of the Debtors' Alaska
Assets; (B) Scheduling Auction and Hearing to Consider Approval of Sale; (C) Approving Notice
of Respective Dates, Times, and Places for Auction and for Hearing on Approval of (1) Sale and
(II) Assumption and assignment of
Approving Forms of
hereby
The Debtors in these cases, along with the last four digits of each 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, me. (9487); and Gotland Oil, me. (5463). The address for all of the Debtors is 111 W. Ocean
Boulevard, Suite 1240, Long Beach, CA.
2 Unless otherwse defined herein, all capitalized terms shall have the meanings ascribed to them in the
Sale Procedures Motion.
68773-002\DOCS _ LA:202498. 7
Procedures for Sale of Debtors' Alaska Assets; (B) Scheduling Auction and Hearing to Consider
Approval of Sale; (C)Approving Notice of Respective Dates, Times, and Places for Auction and
for Hearing on Approval of (1) Sale and (II) Assumption and Assignment of Certain Executory
Contracts and Unexpired Leases; (D) Approving Forms of
Notice (Docket No. ~ (the "Sale Procedures Motion") is scheduled for July 1, 2009 at 10:00
is set for June 24, 2009 at 4:00 p.m. prevailng Eastern Time; and it is fuher
ORDERED that counsel for the Debtors shall, within one business day of entry of
this Order, serve a copy of
and/or electronic mail, on the paries originally served with the Sale Procedures Motion.
68773-002\DOCS _ LA:202498.7
In re: )
lists in the maner indicated:
Chapter 11
Debtors. ))
CERTIFICATE OF SERVICE
I, James E. O'Neill, Esquire, hereby certify that on the 16th day of June, 2009, I
caused a copy of the following documents to be served on the individuals on the attached service
DEBTORS' MOTION TO SET A HEARG DATE AN SHORTEN NOTICE ON DEBTORS' MOTION FOR AN ORDER (A) APPROVIG PROCEDURS FOR SALE OF THE DEBTORS' ALASKA ASSETS; (B) SCHEDULING AUCTION AN HEARG TO CONSIDER APPROVAL OF SALE; (C) APPROVIG NOTICE OF
RESPECTIV DATES, TIMS, AN PLACES FOR AUCTION AN FOR HEARG ON APPROVAL OF (I SALE AN (I ASSUMTION AN ASSIGNMNT OF CERTAI EXECUTORY CONTRACTS AN UNXPIRD LEASES; (D) APPROVIG FORMS OF NOTICE; AN (E) GRATING RELATED RELIEF; AN
(PROPOSED) ORDER GRATING DEBTORS' MOTION TO SET A HEARG DATE AN SHORTEN NOTICE ON DEBTORS' MOTION FOR AN ORDER (A) APPROVIG
PROCEDURS FOR SALE OF THE DEBTORS' ALASKA ASSETS; (B) SCHEDULING
AUCTION AN HEARG TO CONSIDER APPROVAL OF SALE; (C) APPROVIG NOTICE OF RESPECTIV DATES, TIMS, AN PLACES FOR AUCTION AN FOR HEARG ON APPROVAL OF (I SALE AN (I ASSUMTION AN ASSIGNMNT OF CERTAI EXECUTORY CONTRACTS AN UNXPIRD LEASES; (D) APPROVIG FORMS OF NOTICE; AN (E) GRATING RELATED RELIEF
~0J~
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 Operatig 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, Long Beach, CA 90802.
Juneau, AJ 99811-1800
Anchorage, AJ 99503
Offce
Natual Resources
Anchorage, AK 99503
Anchorage, AK 99510-0720
Assistant Regional Counsel EPA Regional Administrator Att: Underground Injection Control, Groundwater Unit, (OCE-127) Financial
Kenai, AJ 99611
Anchorage, AJ 99503
Hand Delivery (United States Attorney) Ellen W. Slights, Esq. United States Attorney's Office District of Delaware
1007 N. Orange Street, Suite 700
Wilmington, DE 19801
Hand Delivery (Counsel for Silver Point Finance) Ian S. Fredericks, Esquire
Skadden Ars, Slate, Meagher & Flom LLP
Counsel for Debtors) Laura Davis Jones, Esquire James E. O'Neil, Esquire
Katheen P. Makowski, Esquire
Wilmington, DE 19899
Hand Delivery (Counsel for Union Oil Company of California, a California Corporation) Norman M. Monhait, Esquire Rosenthal, Monhait & Goddess, P A
Citizens Bank Center, Suite 1401
Wilmington, DE 19801
Hand Delivery (Copy Service)
Parcels, Inc.
Hand Delivery (Counsel for Westchester Fire Insurance Company and Noble Energy Inc.) Tobey M. Daluz, Esquire Joshua E. Zugerman, Esquire Ballard Spah Andrews & Ingersoll, LLP 919 N. Market Street, iih Floor Wilmington, DE 19801
Hand Delivery (Counsel for Oxy Long Beach Inc.) David L. Finger, Esquire
Finder, Slanina Liebesman, LLC
Wilmington, DE 19801
Hand Delivery
(Official Committee of
Unsecured
Creditors) David B. Stratton, Esquire James C. Carignan, Esquire Pepper Hamilton LLP
Hercules Plaza, Suite 1500
Hand Delivery (Counsel for Marathon Oil Company) Kevin J. Mangan, Esquire Womble Carlyle Sandridge & Rice, PLLC
222 Delaware Avenue, Suite 150 I
Dover, DE 19903
Wilmington, DE 1980 i
Hand Delivery (Counsel for Cook Inlet Region, Inc.) Eric Lopez Schnabel, Esquire Dorsey & Whitney (Delaware) LLP
1105 North Market Street, Suite 16th Floor
Wilmington, DE 19801
Hand Delivery (Counsel for Area Energy LLC) Norman L. Pernick, Esquire Karen M. McKinley, Esquire Cole, Schotz, Meisel, Forman & Leonard, P.A. 500 Delaware Avenue, Suite 1410 Wilmington, DE 19801
District Director Internal Revenue Service 31 Hopkins Plaza, Room 1150 Baltimore, MD 2120 I
Newark, DE 19711-5445
Washington, DC 20549
Washington, DC 20554
Anchorage, AK 99501
Banptcy Coordinator
MMS 1 Denver Federal Center POBox 25165 Mail Stop 370B2 Denver, CO 80225
Philadelphia, P A 19103
Baltimore, MD 21209
Greenwich, CT 06830
E. Kathleen Shahan, Esquire U.S. Deparment of Justice 1100 L Street, NW Washington, D.C. 20005
Creditors) Filiberto Agusti, Esquire Steven Reed, Esquire Joshua Taylor, Esquire Steptoe & Johnson LLP 1330 Connecticut Avenue NW Washington, DC 20036
Creditors) Robbin Itkin, Esquire Katherine Piper, Esquire Kelly Frazier, Esquire Steptoe & Johnson LLP
2121 Avenue of
Anchorage, AK 99501