UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


FORM 8-K


CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 29, 2017 


Escalera Resources Co.

(Exact name of registrant as specified in its charter)

 


 

 

 

 

 

 

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.)

 


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))

 

 

 


 

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 December 29, 2017, the Company filed with the United States Trustee, and subsequently with the Court, its monthly operating report for the period ended November 30, 2017 (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 ended November 30, 2017


 

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: January 2, 2018

 

By:

 

/s/ Adam Fenster

 

 

Name:

 

Adam Fenster

 

 

Title:

 

Chief Financial Officer

 


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, 2017

 

 

 

 

 

 

Accounting Method:

Accrual Basis

Cash Basis

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Mark One Box for Each Required Document:

 

 

 

 

Debtor must attach each of the following documents unless the U. S. Trustee has waived the requirement in writing.  File the original with the Clerk of Court. Submit a duplicate, with original signature, to the U. S. Trustee.

Report/Document Attached

 

Previously Waived

 

 

REQUIRED REPORTS/DOCUMENTS

 

 

 

 

 

 

 

 

1.

Cash Receipts and Disbursements Statement (Form 2-B

 

 

 

 

 

 

 

 

2.

Balance Sheet (Form 2-C)

 

 

 

 

 

 

 

 

3.

Profit and Loss Statement (Form 2-D)

 

 

 

 

 

 

 

 

4.

Supporting Schedules (Form 2-E)

 

 

 

 

 

 

 

 

5.

Quarterly Fee Summary (Form 2-F)

 

 

 

 

 

 

 

 

6.

Narrative (Form 2-G)

 

 

 

 

 

 

 

 

7.

Bank Statements for All Bank Accounts

 

 

 

 

 

(Redact all but last 4 digits of account number and remove check images)

 

 

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:

12/29/2017  

Print Name:

Adam Fenster

 

 

Signature:

/s/ Adam Fenster

 

 

Title:

Chief Financial Officer

 

Rev. 1/15/14


 

 

 

 

 

 

DEBTOR(S):

Escalera Resources Co.

 

CASE NO:

15-22395-TBM

 

Form 2-B

CASH RECEIPTS AND DISBURSEMENTS STATEMENT

For Period:     November 1, 2017 to November 30, 2017

 

CASH FLOW SUMMARY

 

 

 

 

 

 

 

 

 

 

 

 

Current Month

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

1.

Beginning Cash Balance

$

4,358,203.46

(1)

$

10,037,754.37

(1)

 

 

 

 

 

 

 

 

2.

Cash Receipts

 

 

 

 

 

 

 

Operations

 

761,492.48

 

 

20,787,371.97

 

 

Sale of Assets

 

0

 

 

0

 

 

Loans/advances

 

0

 

 

0

 

 

Other

 

0

 

 

0

 

 

 

 

 

 

 

 

 

 

Total Cash Receipts

$

761,492.48

 

$

20,787,371.97

 

 

 

 

 

 

 

 

 

3.

Cash Disbursements

 

 

 

 

 

 

 

Operations

 

948,825.32

 

 

24,364,527.90

 

 

Debt Service/Secured loan payment

 

0

 

 

0

 

 

Professional fees/U.S. Trustee fees

 

48,415.86

 

 

2,047,758.90

 

 

Professional fees paid from retainer (e.g. COLTAF accts)

 

0

 

 

254,321.60

 

 

Other

 

0

 

 

36,063.18

 

 

 

 

 

 

 

 

 

 

Total Cash Disbursements

$

997,241.18

 

$

26,702,671.58

 

 

 

 

 

 

 

 

 

4.

Net Cash Flow (Total Cash Receipts less

 

 

 

 

 

 

 

Total Cash Disbursements)

 

(235,748.70)

 

 

(5,915,299.61)

 

 

 

 

 

 

 

 

 

5.

Ending Cash Balance (to Form 2-C)

$

4,122,454.76

(2)

$

4,122,454.76

(2)

 

CASH BALANCE SUMMARY

 

 

 

 

 

 

 

 

Financial Institution

 

Book Balance

 

Petty Cash

None

$

0.00

 

 

 

 

 

 

DIP Operating Account

ANB Bank – 2000004201

 

3,758,076.12

 

 

 

 

 

 

DIP State Tax Account

None

 

0.00

 

 

 

 

 

 

DIP Payroll Account

None

 

0.00

 

 

 

 

 

 

Other Operating Account

ANB Bank - 2000007113

 

174,092.39

 

 

 

 

 

 

Retainers held by professionals (i.e. COLTAF)

Per Form 2-E

 

190,286.25

 

 

 

 

 

 

TOTAL (must agree with Ending Cash Balance above)

$

4,122,454.76

(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

 

 


 

 

 

 

 

 

DEBTOR(S):

Escalera Resources Co.

 

CASE NO:

15-22395-TBM

 

Form 2-B

CASH RECEIPTS AND DISBURSEMENTS STATEMENT

For Period:     November 1, 2017 to November 30, 2017

 

CASH RECEIPTS DETAIL

Account No:

2000004201

 (attach additional sheets as necessary)

 

 

 

 

 

 

 

 

 

Date

 

Payer

 

Description

 

Amount

 

11/9/2017

 

Hilcorp Energy Company

 

Revenue - operated properties

$

22.51

 

11/9/2017

 

Peak Powder River Resoures LLC

 

Revenue - non-operated properties

 

141.25

 

11/9/2017

 

SM Energy

 

Revenue - non-operated properties

 

189.11

 

11/9/2017

 

Warren Resources, Inc.

 

Revenue - non-operated properties

 

215.01

 

11/9/2017

 

URBAN OIL & GAS GROUP, LLC

 

Revenue - non-operated properties

 

680.69

 

11/9/2017

 

AETHON ENERGY OPERATING LLC

 

Revenue - non-operated properties

 

1,085.83

 

11/9/2017

 

Zavanna, LLC

 

Revenue - non-operated properties

 

1,273.04

 

11/9/2017

 

GMT Exploration Co., LLC

 

Revenue - non-operated properties

 

1,891.31

 

11/9/2017

 

Continental Resources, Inc.

 

Revenue - non-operated properties

 

2,338.77

 

11/9/2017

 

Statoil Oil & Gas LP

 

Revenue - non-operated properties

 

2,698.38

 

11/9/2017

 

Anadarko Petroleum Corp.

 

Revenue - non-operated properties

 

7,430.49

 

11/9/2017

 

Tundra Resources LLC

 

Joint interest billing reimbursement

 

18.01

 

11/9/2017

 

McCartney Minerals, LLC

 

Joint interest billing reimbursement

 

776.51

 

11/16/2017

 

Black Bear Oil Corp.

 

Revenue - non-operated properties

 

2.57

 

11/16/2017

 

Omimex Petroleum Inc

 

Revenue - non-operated properties

 

6.27

 

11/16/2017

 

BreitBurn Operating LP

 

Revenue - non-operated properties

 

10.02

 

11/16/2017

 

Sunshine Valley Petroleum Corp

 

Revenue - non-operated properties

 

298.94

 

11/16/2017

 

Carbon Creek Energy, LLC

 

Revenue - non-operated properties

 

841.96

 

11/16/2017

 

Oasis Petroleum North America

 

Revenue - non-operated properties

 

965.67

 

11/16/2017

 

Kerr-McGee Oil & Gas

 

Revenue - non-operated properties

 

1,240.03

 

11/16/2017

 

Oasis Petroleum North America

 

Revenue - non-operated properties

 

3,643.09

 

11/16/2017

 

Thunder Oil and Gas

 

Joint interest billing reimbursement

 

2.74

 

11/16/2017

 

Providence Energy Corp.

 

Joint interest billing reimbursement

 

2.93

 

11/16/2017

 

Jackal Oil Company

 

Joint interest billing reimbursement

 

3.66

 

11/16/2017

 

HHE - AS - 2005

 

Joint interest billing reimbursement

 

7.30

 

11/16/2017

 

John Lockridge

 

Joint interest billing reimbursement

 

8.43

 

11/16/2017

 

PetroHill Resources, LLC

 

Joint interest billing reimbursement

 

11.89

 

11/16/2017

 

Chinn Family LTD Partnership

 

Joint interest billing reimbursement

 

12.31

 

11/16/2017

 

Cajun-Ivy Investments

 

Joint interest billing reimbursement

 

14.68

 

11/16/2017

 

Silver Creek Oil & Gas, LLC

 

Joint interest billing reimbursement

 

32.23

 

11/16/2017

 

Keith L. Mohl & Marlene Mohl,

 

Joint interest billing reimbursement

 

34.72

 

11/16/2017

 

Freeport-McMoRan Oil & Gas LLC

 

Joint interest billing reimbursement

 

69.50

 

11/16/2017

 

McCartney Minerals, LLC

 

Joint interest billing reimbursement

 

302.06

 

11/20/2017

 

XTO Energy

 

Revenue - non-operated properties

 

11,688.06

 

11/24/2017

 

XTO Energy

 

Revenue - non-operated properties

 

838.06

 

11/24/2017

 

ConocoPhillips Company

 

Revenue - non-operated properties

 

18,815.08

 

11/30/2017

 

Summit Energy LLC

 

Revenue - operated properties

 

703,857.91

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Cash Receipts

$

761,471.02
(1)

 

 

 

 

 

 

 

 

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

Rev. 1/15/14

 

 

 

 

 

 

 


 

 

DEBTOR(S):

Escalera Resources Co.

 

CASE NO:

15-22395-TBM

 

Form 2-B

CASH RECEIPTS AND DISBURSEMENTS STATEMENT

For Period:     November 1, 2017 to November 30, 2017

 

CASH RECEIPTS DETAIL

Account No:

2000007113

 (attach additional sheets as necessary)

 

 

 

 

 

 

 

 

 

Date

 

Payer

 

Description

 

Amount

 

 

 

 

 

 

 

 

 

11/30/2017

 

ANB Bank

 

November 2017 interest

 

21.46

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Cash Receipts - Operations

$

21.46
(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Rev. 1/15/14

 

 

 

 

 

 

 


 

DEBTOR(S):

Escalera Resources Co.

 

CASE NO:

15-22395-TBM

 

Form 2-B

CASH RECEIPTS AND DISBURSEMENTS STATEMENT

For Period:     November 1, 2017   to   November 30, 2017

 

 

 

 

CASH DISBURSEMENTS DETAIL

Account No:

2000004201

 

 (attach additional sheets as necessary)

 

 

 

 

 

 

 

 

 

 

 

Date

 

Check No.

 

Payer

 

Description

 

Amount

 

11/2/2017

 

EFT

 

Towne Park

 

General and administrative expenses

$

242.99

 

11/3/2017

 

47524

 

Alsco

 

Field operating expenses

 

1,275.26

 

11/3/2017

 

47525

 

C&G Roustabout Services, LLC

 

Field operating expenses

 

5,598.08

 

11/3/2017

 

47526

 

Complete Energy Services, Inc.

 

Field operating expenses

 

4,479.30

 

11/3/2017

 

47527

 

EON Office

 

General and administrative expenses

 

14.14

 

11/3/2017

 

47528

 

High Country Search Group

 

General and administrative expenses

 

1,512.00

 

11/3/2017

 

47529

 

KLX Energy Services LLC

 

Field operating expenses

 

8,609.40

 

11/3/2017

 

47530

 

Mutual of Omaha Bank

 

Legal fees - Creditor

 

17,167.95

 

11/3/2017

 

47531

 

Neofirma, Inc.

 

General and administrative expenses

 

6,737.00

 

11/3/2017

 

47532

 

RPA Advisors, LLC

 

Professional fees - Creditor

 

11,542.92

 

11/3/2017

 

47533

 

Sky Blue Enterprises, Inc.

 

Field operating expenses

 

2,167.71

 

11/3/2017

 

47534

 

True Value of Rawlins

 

Field operating expenses

 

71.51

 

11/3/2017

 

47535

 

Warren Energy Services

 

Field operating expenses

 

65,076.22

 

11/3/2017

 

47536

 

Warren Resources, Inc.

 

Joint interest billing payment

 

115,184.92

 

11/3/2017

 

47537

 

Winchester Well Service, Inc.

 

Field operating expenses

 

25,242.53

 

11/3/2017

 

EFT

 

CoAdvantage

 

Payroll 11.3.17

 

56,123.80

 

11/7/2017

 

EFT

 

Amazon

 

Field operating expenses

 

28.42

 

11/7/2017

 

EFT

 

CED Inc.

 

Field operating expenses

 

1,582.53

 

11/7/2017

 

EFT

 

UPS

 

Field operating expenses

 

31.15

 

11/9/2017

 

EFT

 

CED Inc.

 

Field operating expenses

 

556.02

 

11/10/2017

 

47538

 

361 Services Inc

 

General and administrative expenses

 

4,737.50

 

11/10/2017

 

47539

 

All American Records

 

General and administrative expenses

 

183.73

 

11/10/2017

 

47540

 

Calibration Tech. & Supply Inc

 

Field operating expenses

 

3,964.35

 

11/10/2017

 

47541

 

Complete Energy Services, Inc.

 

Field operating expenses

 

3,872.70

 

11/10/2017

 

47542

 

Culligan, Inc.

 

General and administrative expenses

 

32.33

 

11/10/2017

 

47543

 

GTT Communications, Inc

 

General and administrative expenses

 

735.85

 

11/10/2017

 

47544

 

High Desert Services

 

Field operating expenses

 

1,538.50

 

11/10/2017

 

47545

 

Homax Oil Sales Inc.

 

Field operating expenses

 

1,374.30

 

11/10/2017

 

47546

 

James T. Albi

 

Employee expense reimbursement

 

622.09

 

11/10/2017

 

47547

 

Konica Minolta

 

General and administrative expenses

 

673.72

 

11/10/2017

 

47548

 

Merrill Communications LLC

 

General and administrative expenses

 

1,700.00

 

11/10/2017

 

47549

 

Onsager | Fletcher |

 

Legal fees - Debtor

 

5,700.84

 

11/10/2017

 

47550

 

REDDOG Systems Inc.

 

General and administrative expenses

 

1,054.00

 

11/10/2017

 

47551

 

RPA Advisors, LLC

 

Professional fees - Creditor

 

13,764.67

 

11/10/2017

 

47552

 

Roberto Lopez-Zaragoza

 

Employee expense reimbursement

 

127.17

 

11/10/2017

 

47553

 

Robidoux Oilfield Services

 

Field operating expenses

 

634.97

 

11/10/2017

 

47554

 

Rocky Mountain Power

 

Field operating expenses

 

108,391.72

 

11/10/2017

 

47555

 

Shelco

 

Field operating expenses

 

1,658.05

 

11/10/2017

 

47556

 

Verizon Wireless

 

Field operating expenses

 

75.57

 

11/10/2017

 

47557

 

Zedi

 

Field operating expenses

 

734.40

 

11/13/2017

 

EFT

 

PayFlex Systems USA, Inc.

 

General and administrative expenses

 

1,011.00

 

 


 

11/13/2017

 

EFT

 

Francotyp-Postalia, Inc.

 

General and administrative expenses

 

200.00

 

11/14/2017

 

EFT

 

UPS

 

Field operating expenses

 

36.70

 

11/14/2017

 

EFT

 

UPS

 

Field operating expenses

 

23.39

 

11/14/2017

 

EFT

 

Amazon

 

Field operating expenses

 

88.46

 

11/15/2017

 

47558

 

Office of State Lands & Invest

 

Payment of royalties/overrides

 

5,224.69

 

11/15/2017

 

47559

 

Oil & Gas Conservation Comm.

 

Conservation tax

 

352.83

 

11/15/2017

 

EFT

 

SP Plus Corporation

 

General and administrative expenses

 

1,710.00

 

11/16/2017

 

47560

 

Rosemont WTC Denver

 

General and administrative expenses

 

8,229.45

 

11/16/2017

 

EFT

 

CED Inc.

 

Field operating expenses

 

252.51

 

11/16/2017

 

EFT

 

Amazon

 

Field operating expenses

 

34.90

 

11/16/2017

 

EFT

 

Sump Pumps Direct

 

Field operating expenses

 

660.00

 

11/16/2017

 

EFT

 

CED Inc.

 

Field operating expenses

 

204.58

 

11/17/2017

 

EFT

 

Union Telephone Company

 

Field operating expenses

 

213.15

 

11/17/2017

 

EFT

 

CoAdvantage

 

Payroll 11.17.17

 

57,913.09

 

11/20/2017

 

EFT

 

Amazon

 

Field operating expenses

 

140.35

 

11/20/2017

 

EFT

 

Microsoft

 

General and administrative expenses

 

125.79

 

11/21/2017

 

47561

 

361 Services Inc

 

General and administrative expenses

 

5,333.75

 

11/21/2017

 

47562

 

Anadarko E&P Onshore LLC

 

Joint interest billing payment

 

3,756.95

 

11/21/2017

 

47563

 

Bayswater Exploration & Prod

 

Joint interest billing payment

 

4.65

 

11/21/2017

 

47564

 

Burlington Resources

 

Joint interest billing payment

 

28,796.58

 

11/21/2017

 

47565

 

C&G Roustabout Services, LLC

 

Field operating expenses

 

2,885.52

 

11/21/2017

 

47566

 

CSI Compressco Sub Inc.

 

Field operating expenses

 

12,134.90

 

11/21/2017

 

47567

 

Calibration Tech. & Supply Inc

 

Field operating expenses

 

853.03

 

11/21/2017

 

47568

 

Complete Energy Services, Inc.

 

Field operating expenses

 

7,161.30

 

11/21/2017

 

47569

 

Computershare Trust Co, Inc.

 

General and administrative expenses

 

798.10

 

11/21/2017

 

47570

 

DNOW L.P.

 

Field operating expenses

 

236.78

 

11/21/2017

 

47571

 

Davis Construction

 

Field operating expenses

 

1,051.00

 

11/21/2017

 

47572

 

Davis Family Inc.

 

Field operating expenses

 

518.83

 

11/21/2017

 

47573

 

Drummond Refrigeration LLC

 

Field operating expenses

 

177.38

 

11/21/2017

 

47574

 

Dubois Telephone Exchange

 

Field operating expenses

 

240.19

 

11/21/2017

 

47575

 

EON Office

 

General and administrative expenses

 

370.80

 

11/21/2017

 

47576

 

High Country Search Group

 

General and administrative expenses

 

1,512.00

 

11/21/2017

 

47577

 

Homax Oil Sales Inc.

 

Field operating expenses

 

1,277.68

 

11/21/2017

 

47578

 

IHS Global Inc.

 

General and administrative expenses

 

2,586.29

 

11/21/2017

 

47579

 

Insurance Risk Partners, LLC

 

General and administrative expenses

 

5,810.00

 

11/21/2017

 

47580

 

Iron J Towing Inc

 

Field operating expenses

 

350.00

 

11/21/2017

 

47581

 

KLX Energy Services LLC

 

Field operating expenses

 

64,527.82

 

11/21/2017

 

47582

 

Kerr McGee Oil & Gas Onshore

 

Joint interest billing payment

 

29.07

 

11/21/2017

 

47583

 

Linn Energy LLC

 

Joint interest billing payment

 

27.13

 

11/21/2017

 

47584

 

Moncrief Royalty Account

 

Joint interest billing payment

 

958.32

 

11/21/2017

 

47585

 

Montex Drilling Company

 

Joint interest billing payment

 

755.88

 

11/21/2017

 

47586

 

NOV Process & Flow

 

Field operating expenses

 

5,851.20

 

11/21/2017

 

47587

 

Oasis Petroleum North America

 

Joint interest billing payment

 

155.33

 

11/21/2017

 

47588

 

Patrick R. Sheehan

 

Field operating expenses

 

700.00

 

11/21/2017

 

47589

 

Powder River Energy Group

 

Field operating expenses

 

357.26

 

11/21/2017

 

47590

 

Rawlins Automotive, Inc.

 

Field operating expenses

 

65.83

 

11/21/2017

 

47592

 

Roberto Lopez-Zaragoza

 

Employee expense reimbursement

 

34.37

 

11/21/2017

 

47593

 

Rocky Mountain Oilfield Whse

 

Field operating expenses

 

258.64

 

11/21/2017

 

47594

 

Sky Blue Enterprises, Inc.

 

Field operating expenses

 

1,136.85

 

 


 

11/21/2017

 

47595

 

Skyline Motors Inc.

 

Field operating expenses

 

725.12

 

11/21/2017

 

47596

 

Transzap, Inc.

 

Field operating expenses

 

160.74

 

11/21/2017

 

47597

 

True Value of Rawlins

 

Field operating expenses

 

118.07

 

11/21/2017

 

47598

 

URBAN OIL & GAS GROUP, LLC

 

Joint interest billing payment

 

1,681.50

 

11/21/2017

 

47599

 

Winchester Well Service, Inc.

 

Field operating expenses

 

32,884.90

 

11/21/2017

 

47600

 

ZOCO Unlimited, Inc.

 

Field operating expenses

 

750.00

 

11/21/2017

 

47601

 

Zavanna, LLC

 

Joint interest billing payment

 

2,153.92

 

11/21/2017

 

47602

 

Natrona County Treasurer

 

Field operating expenses

 

528.39

 

11/21/2017

 

EFT

 

Amazon

 

General and administrative expenses

 

224.70

 

11/21/2017

 

EFT

 

Amazon

 

General and administrative expenses

 

161.25

 

11/22/2017

 

47603

 

Oklahoma Tax Commission

 

General and administrative expenses

 

100.00

 

11/22/2017

 

EFT

 

Amazon

 

General and administrative expenses

 

47.99

 

11/24/2017

 

EFT

 

Wyoming Depart of Revenue

 

Severance Tax

 

42,288.48

 

11/27/2017

 

EFT

 

Start Meeting

 

General and administrative expenses

 

31.48

 

11/29/2017

 

EFT

 

CoAdvantage

 

Payroll 12.1.17

 

57,182.24

 

11/29/2017

 

EFT

 

Brownstein Hyatt Farber Schreck

 

Royalties/overrides settlement payment

 

70,000.00

 

11/30/2017

 

EFT

 

Office of Natural Resources

 

Payment of royalties/overrides

 

86,106.77

 

11/30/2017

 

EFT

 

Comcast

 

General and administrative expenses

 

141.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Cash Disbursements - Operating

$

997,241.18

(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Cash Disbursements

$

997,241.18

 

 

 

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

Rev. 1/15/14

 

 


 

 

 

 

 

 

DEBTOR(S):

Escalera Resources Co.

 

CASE NO:

15-22395-TBM

 

Form 2-C

COMPARATIVE BALANCE SHEET

For Period Ended:     November 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSETS

 

 

Current

Month

 

Petition

Date (1)

Current Assets:

 

 

 

 

 

Cash (from Form 2-B, line 5)

 

$

4,122,455

$

10,037,754

Accounts Receivable (from Form 2-E)

 

 

1,281,376

 

1,843,543

Receivable from Officers, Employees, Affiliates

 

37,697

 

408,716

Inventory

 

 

2,267,328

 

1,995,798

Other Current Assets :(List)

Cash held in escrow

 

333,822

 

303,393

 

Prepaid expenses and deposits

 

259,555

 

709,197

 

Hedge-related current assets

 

-  

 

203,570

Total Current Assets

 

$

8,302,233

$

15,501,971

 

 

 

 

 

 

Fixed Assets (at cost):

 

 

 

 

 

Land

 

$

1,169,006

$

1,169,011

Building

 

 

-  

 

-

Equipment, Furniture and Fixtures

 

 

166,931,269

 

166,099,098

Total Fixed Assets

 

 

168,100,275

 

167,268,109

Less:  Accumulated Depreciation

 

 

(123,725,693)

 

(107,050,551)

Net Fixed Assets

 

$

44,374,582

$

60,217,558

 

 

 

 

 

 

Other Assets (List):

Investment in Eastern Washakie

 

5,272,518

 

5,272,518

 

Other assets

 

204,484

 

104,484

TOTAL ASSETS

 

$

58,153,817

$

81,096,531

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

Post-petition Accounts Payable (from Form 2-E)

$

1,217,543

$

2,548

Post-petition Accrued Professional Fees (from Form 2-E)

 

231,843

 

-

Post-petition Taxes Payable (from Form 2-E)

 

1,058,500

 

-

Post-petition Notes Payable

 

 

-

 

-

Other Post-petition Payable(List):

Accrued revenue payable

 

346,738

 

-

 

Other accrued liabilities and expenses

 

1,300,448

 

-

 

Payable to affiliate

 

922,679

 

 

Total Post Petition Liabilities

 

 

5,077,751

$

2,548

 

 

 

 

 

 

Pre Petition Liabilities:

 

 

 

 

 

Secured Debt

 

 

 41,099,202

 

42,874,598

Priority Debt

 

 

111,279

 

178,428

Unsecured Debt

 

 

  10,597,742

 

11,429,928

Total Pre Petition Liabilities

 

 

51,808,223

 

54,482,954

 

 

 

 

 

 

TOTAL LIABILITIES

 

$

56,885,974

$

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

 

 

(25,338,067)

 

-

TOTAL OWNERS' EQUITY

 

$

1,267,843

$

26,611,029

 

 

 

 

 

 

TOTAL LIABILITIES AND OWNERS' EQUITY

$

58,153,817

$

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

 

 

 

 

 

 

DEBTOR(S):

Escalera Resources Co.

 

CASE NO:

15-22395-TBM

 

Form 2-D

PROFIT AND LOSS STATEMENT

For Period:     November 1, 2017   to   November 30, 2017

 

 

 

 

 

 

 

 

 

 

Current

 

Accumulated

 

 

 

Month

 

Total (1)

 

 

 

 

 

 

Gross Operating Revenue

 

$

720,266

$

18,090,724

Less:  Discounts, Returns and Allowances

 

0

 

0

 

 

 

 

 

Net Operating Revenue

$

720,266

$

18,090,724

 

 

 

 

 

 

Cost of Goods Sold

 

 

841,989

 

19,131,528

 

 

 

 

 

 

Gross Profit

 

$

(121,723)

$

(1,040,804)

 

 

 

 

 

 

Operating Expenses: