November 11, 2019 / 10:16 PM / a month ago

Energy fund Sheridan sees enterprise value of up to $500 mln post-bankruptcy

Oil and natural gas investment fund Sheridan Holding Co II LLC expects to be valued between $350 million to $500 million if its prepackaged bankruptcy reorganization plan is approved as expected, its banking advisor said in a filing on Sunday.

Curtis Flood of Evercore Group LLC also said in the filing in U.S. Bankruptcy Court in Houston that the estimated enterprise value and net debt of $160 million will leave Sheridan with an implied equity value between $190 million and $340 million.

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